NVIDIA Q2 FY2026 Earnings: Revenue Hits $46.7 Billion, Blackwell Drives Growth
NVIDIA has reported strong financial results for the second quarter of fiscal 2026, driven by robust demand for its Blackwell Data Center platform. With revenue surging 56% year-over-year to $46.7 billion, the chipmaker continues to dominate the AI computing space while boosting shareholder returns with a record buyback program.
09:50 AM Aug 28, 2025 IST
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Aakash Khuman
NVIDIA Q2 FY2026 Earnings: NVIDIA announced second-quarter fiscal 2026 revenue of $46.7 billion, reflecting a 6% increase from the previous quarter and a remarkable 56% rise year-over-year. The growth was fueled by its Blackwell Data Center platform, which reported a 17% sequential revenue jump.
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Limited China Sales
The company confirmed there were no H20 sales to China-based customers in the quarter. However, NVIDIA benefited from a $180 million release of reserved H20 inventory, along with approximately $650 million in unrestricted H20 sales to a customer outside of China.
Solid Margins Reported
For Q2, GAAP and non-GAAP gross margins stood at 72.4% and 72.7%, respectively. Without the $180 million release, the non-GAAP gross margin would have been 72.3%. This reflects the company’s ability to maintain strong profitability despite market constraints.
Earnings per Share
NVIDIA posted GAAP diluted earnings per share of $1.08 and non-GAAP EPS of $1.05. Adjusted for the $180 million inventory release and tax impact, non-GAAP EPS would have been $1.04.
CEO on Blackwell Growth
NVIDIA CEO Jensen Huang highlighted the growing demand for its Blackwell AI platform, calling it “the AI platform the world has been waiting for.” He emphasized that Blackwell Ultra production is ramping at full speed, with extraordinary demand as AI models drive massive increases in training and inference performance.
Shareholder Returns Expanded
During the first half of fiscal 2026, NVIDIA returned $24.3 billion to shareholders through buybacks and dividends. By the end of Q2, $14.7 billion remained under its repurchase authorization. On August 26, 2025, the Board approved an additional $60 billion repurchase authorization, with no expiration date.
Dividend Announcement
The company declared a quarterly cash dividend of $0.01 per share, payable on October 2, 2025, to shareholders of record as of September 11, 2025.
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