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NVIDIA posts $96B revenue and lifts outlook

NVIDIA reported $96.221 billion in second-quarter revenue and $89.023 billion in data-center revenue, both more than doubling year over year. Its $108 billion third-quarter revenue guide exceeded public analyst expectations.

By All We Need Editorial System

NVIDIA reported second-quarter revenue of $96.221 billion, up 106% year over year, while data-center revenue reached $89.023 billion, up 117%. Its third-quarter revenue guide of $108 billion, plus or minus 2%, exceeded the $104.86 billion FactSet analyst expectation, indicating further expansion in the scale of its data-center business.

Revenue and guidance moved higher together

For the quarter ended July 26, 2026, NVIDIA reported $96.221 billion in revenue, up 18% sequentially and 106% year over year. GAAP net income was $59.69 billion and GAAP diluted EPS was $2.46. Data-center revenue reached $89.023 billion, up 117% from a year earlier. Visible Alpha’s pre-results revenue consensus was $92.2 billion, while FactSet’s average estimate was $92.27 billion. NVIDIA’s $108 billion third-quarter revenue guide was also above FactSet’s $104.86 billion forecast.

Compute demand is increasing operating leverage

Data-center revenue represented roughly nine-tenths of NVIDIA’s quarterly revenue, making accelerated-computing demand the principal driver of the expansion. The company expects third-quarter revenue of $108 billion and GAAP gross margin of about 74.0%, plus or minus 50 basis points. In the prior quarter, NVIDIA had guided for second-quarter revenue of $91 billion, plus or minus 2%; actual revenue reached $96.221 billion. The disclosed sequence suggests that deployment demand continued to convert into reported sales.

Working capital and China remain watchpoints

NVIDIA’s CFO commentary said supply and capacity commitments increased from $119 billion to $279 billion. Accounts receivable reached $63.1 billion, DSO rose from 45 to 60 days, and inventory increased sequentially to $31.6 billion. Hopper shipments to China were below 1% of data-center revenue, while the third-quarter guide excludes China revenue. These measures do not negate the quarter’s growth, but they make collection, inventory, and regional recovery important tests.

What to watch next

Evidence that data-center revenue continues to meet or exceed the third-quarter guide, gross margin remains within the company’s range, and DSO does not extend further would strengthen the view that demand is translating into durable revenue. Revenue at the low end of guidance, further sharp increases in inventory and receivables, or weaker revenue conversion against commitments would weaken it.

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