NVIDIA Corporation · NVDA · FY2027 Q2 · Calendar Q3 2026

NVIDIA Reaffirms Growth Outlook as AI Demand Drives Record Revenue

NVIDIA’s latest quarter supports the view that strong AI infrastructure demand and new platform launches can sustain growth over the next year, but the thesis depends on supply execution, margin management, and continued customer investment.

Why did NVDA rise 8.7% after beating EPS estimates in FY2027 Q2?

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Reported After market closeNASDAQTechnology $5383.60B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $2.22 Consensus $2.09
EPS surprise +6.2% Reported versus consensus
Reported revenue $96.22B Consensus $92.27B
Revenue surprise +4.3% Reported versus consensus

Market reaction

event-close to next-session close
Stock move +8.7% Event window
SPY move +0.7% Same window
Abnormal move +8.1% Stock minus SPY
Volume 2.6× Versus trailing sessions
Subsequent drift -2.5% Up to 20 sessions
NVDASPY benchmark

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Why did NVDA rise 8.7% after beating EPS estimates in FY2027 Q2?What changed in NVDA's guidance and outlook in FY2027 Q2?Give me the bull and bear case for NVDA after FY2027 Q2 earnings.

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Transcript intelligence

What changed

Revenue reached a record level, while management maintained its roughly 70% FY28 growth outlook. The quarter also added emphasis on Vera Rubin, Vera CPU, NeoCloud revenue sharing, and expanded AI infrastructure financing partnerships.

Guidance delta

Management maintained its outlook, reaffirming roughly 70% FY28 revenue growth despite supply constraints.

Key takeaways

  • Record revenue reflected continued AI compute demand across hyperscalers, NeoClouds, and AI labs.
  • Vera Rubin and Vera CPU launches broaden NVIDIA’s next-generation platform.
  • The growth outlook was maintained, but supply and memory costs remain important execution constraints.

Management priorities

  • Scale Vera Rubin GPUs and Vera CPUs.
  • Expand AI infrastructure partnerships, including AWS and NeoCloud customers.
  • Develop financing and revenue-sharing structures to support AI infrastructure build-out.

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Earnings History

Estimate Beat Miss Match
NVDA EPS earnings history estimate and actual scatter chart 9 reported fiscal quarters and 4 future estimate-only quarters. Q3 '24 estimate $0.34 Q3 '24 actual $0.40, beat Q4 '24 estimate $0.46 Q4 '24 actual $0.52, beat Q1 '25 estimate $0.56 Q1 '25 actual $0.61, beat Q2 '25 estimate $0.64 Q2 '25 actual $0.68, beat Q2 '26 estimate $1.01 Q2 '26 actual $1.05, beat Q3 '26 estimate $1.26 Q3 '26 actual $1.30, beat Q4 '26 estimate $1.54 Q4 '26 actual $1.62, beat Q1 '27 estimate $1.76 Q1 '27 actual $1.87, beat Q2 '27 estimate $2.09 Q2 '27 actual $2.22, beat Q3 '27 estimate $2.47 Q4 '27 estimate $2.74 Q1 '28 estimate $3.18 Q2 '28 estimate $3.65
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Analyst Consensus ?

ConsensusBuy77 ratings
Bullish6077.9%
Neutral1418.2%
Bearish33.9%

1 unmapped firm rating excluded from the percentages.

Analyst 52W Price Targets

$200.13Previous close
$13.3Low
$223.22Average
$515High

Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Nov 5, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Melius Research Buy BuyMaintainNov 2, 2026
Needham Buy BuyMaintainOct 22, 2026
Cantor Fitzgerald Overweight OverweightMaintainOct 1, 2026
Rosenblatt Buy BuyMaintainSep 29, 2026
Wedbush Outperform OutperformMaintainAug 27, 2026
Show 73 more rating actions

Named analyst price targets

Upside is calculated against the persisted previous close $200.13. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
BNP ParibasAnalyst unavailable$345$237.11 +72.4%Oct 5, 2026
Wells FargoAnalyst unavailable$210$230.86 +4.9%Oct 2, 2026
Piper SandlerAnalyst unavailable$300$223.67 +49.9%Sep 9, 2026
Truist FinancialAnalyst unavailable$346$225.98 +72.9%Aug 27, 2026
D.A. DavidsonGil Luria$300$225.64 +49.9%Aug 27, 2026
See 308 more

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Company context

Snapshot as of publication

NVIDIA Corporation stands as a prominent provider of advanced graphics, computational, and networking solutions, operating across the United States, Taiwan, China, and numerous international markets. Its Graphics division encompasses GeForce GPUs, central to PC gaming and personal computing experiences, along with the GeForce NOW cloud gaming service and its supporting infrastructure, as well as dedicated solutions for various gaming platforms. For professional visualization, it provides Quadro and NVIDIA RTX GPUs for enterprise workstations, further offering vGPU software designed for cloud-centric visual and virtual computing, automotive platforms for in-vehicle infotainment, and the Omniverse software suite, facilitating 3D design and virtual world creation. The Compute & Networking segment is a cornerstone for AI, high-performance computing (HPC), and accelerated data center platforms.…

Historical context

All NVDA earnings
-1.8%FY2027 Q1 · Calendar Q2 2026-5.5%FY2026 Q4 · Calendar Q1 2026-3.2%FY2026 Q3 · Calendar Q4 2025

Technology peers this season

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GFS GLOBALFOUNDRIES Inc. FY2026 Q3 · Calendar Q4 2026 +3.5% -5.9% GlobalFoundries: Photonics and SiGe growth anchor expansion plans
Q Qnity Electronics, Inc. FY2026 Q3 · Calendar Q4 2026 +21.7% -0.1% Qnity Raises FY2026 Outlook on Advanced-Node and Thermal Demand
TRMB Trimble Inc. FY2026 Q3 · Calendar Q4 2026 -0.2% -17.3% Trimble keeps revenue outlook as AECO growth offsets product-line and regional headwinds
PCOR Procore Technologies, Inc. FY2026 Q3 · Calendar Q4 2026 — +19.7% Procore pairs faster Q3 growth with AI expansion and higher FY26 outlook
CDW CDW Corporation FY2026 Q3 · Calendar Q4 2026 — +12.7% CDW raises FY2026 outlook as AI infrastructure demand lifts Q3 sales
FIS Fidelity National Information Services, Inc. FY2026 Q3 · Calendar Q4 2026 — -23.7% FIS grows recurring revenue, but lowers 2026 outlook amid execution delays

Latest beats and misses

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Sources

  1. Earnings call transcript and parsed analysis · 2026-08-27T14:21:45.613626+00:00
  2. FN2 earnings calendar · 2026-09-21T01:23:13.071796+00:00
  3. Polygon adjusted daily market bars · 2026-09-21T05:50:54.468132+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-21T05:50:54.465358+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-09-21. For educational purposes only; not investment advice.