Slide 1: Investor Presentation Q2 FY27
Investor Presentation Q2 FY27 August 2026
Slide 2: Forward-looking statements
Certain matters in this presentation including, but not limited to, statements as to: expectations with respect to NVIDIA AI infrastructure; expectations with respect to growth, performance and benefits of NVIDIA’s products, services, and technologies, including Blackwell and Vera Rubin, and related
Slide 3: Revenue
Revenue $ in billions $96.2B Added a record ~$15B in revenue q/q, with strong and diverse contribution across both Hyperscale and ACIE Year-over-year growth accelerated for the 4th consecutive quarter – an achievement unprecedented for a company operating at our scale Returned a record ~$26B to shar
Slide 4: Data Center
Data Center Revenue $ in billions Hyperscale AI Clouds, Industrial, and Enterprise (ACIE) $48.7B $40.3B $24.2B $16.9B Q2 FY26 Q2 FY27 Q2 FY26 Q2 FY27 Continued strong demand for our Blackwell architecture
Slide 5: Gross Margin
Gross Margin GAAP Non-GAAP 75.0% 75.0% 72.4% 72.5% Q2 FY26 Q2 FY27 Q2 FY26 Q2 FY27 Gross margin year-on-year increase driven by improved mix from Blackwell Ultra
Slide 6: Operating Expenses
Operating Expenses $ in billions GAAP Non-GAAP $8.4B $8.2B $5.4B $5.4B Q2 FY26 Q2 FY27 Q2 FY26 Q2 FY27 Investing to address the multitude of growth opportunities ahead
Slide 7: Earnings per Share
Earnings per Share GAAP Non-GAAP $2.46 $2.22 $1.08 $1.01 Q2 FY26 Q2 FY27 Q2 FY26 Q2 FY27 Record revenue and operating income drove strong EPS growth
Slide 8: Free Cash Flow and Capital Return
Free Cash Flow and Capital Return $ in billions Free Cash Flow Capital Return Dividends Share Repurchases $21.3B $26.0B $13.5B $10.0B Q2 FY26 Q2 FY27 Q2 FY26 Q2 FY27 Returned a record ~$26B to shareholders while investing for growth
Slide 9: GAAP P&L Financial Measures
GAAP P&L Financial Measures $ in billions, except EPS Q2 FY27 YoY % Q2 FY26 Revenue $96.2 106% $46.7 Gross Margin % 75.0% +2.6 pts 72.4% Operating Expenses $8.4 55% $5.4 Operating Income $63.7 124% $28.4 Net Income $59.7 126% $26.4 Diluted EPS $2.46 128% $1.08
Slide 10: Non-GAAP P&L Financial Measures
Non-GAAP P&L Financial Measures $ in billions, except EPS Q2 FY27 YoY % Q2 FY26 Revenue $96.2 106% $46.7 Gross Margin % 75.0% +2.5 pts 72.5% Operating Expenses $8.2 54% $5.4 Operating Income $64.0 124% $28.5 Net Income $54.0 118% $24.8 Diluted EPS $2.22 120% $1.01
Slide 11: Q3 FY27 Outlook – Non-GAAP
Q3 FY27 Outlook – Non-GAAP Q3 FY27 Revenue $108.0 billion* + / - 2% Gross Margin % 74.0% + / - 50 bps Operating Expenses $9.0 billion Approximately For the full year fiscal 2027, expect non-GAAP tax rates to be between 16.0% and 18.0%, excluding any discrete items and material changes to our tax env
Slide 12: Reconciliation of Non-GAAP to GAAP Financial Measures
Reconciliation of Non-GAAP to GAAP Financial Measures
Slide 13: Reconciliation of Non-GAAP to GAAP Financial Measures
Reconciliation of Non-GAAP to GAAP Financial Measures Acquisition- Gain/(loss) on Tax Impact of Q2 FY2027 Non-GAAP Related and Other Other (B) GAAP Equity Securities Adjustments Costs (A) Gross margin ($ in million) $72,188 (46) — — — $72,142 Gross margin % 75.0% — — — — 75.0% Operating expense ($ i
Slide 14: Reconciliation of Non-GAAP to GAAP Financial Measures
Reconciliation of Non-GAAP to GAAP Financial Measures Acquisition- Gain/(loss) on Tax Impact of Q2 FY2026 Non-GAAP Related and Other Other (B) GAAP Equity Securities Adjustments Costs (A) Gross margin ($ in million) $33,902 (49) — — — $33,853 Gross margin % 72.5% (0.1) — — — 72.4% Operating expense
Slide 15: Reconciliation of Non-GAAP to GAAP Financial Measures (contd.)
Reconciliation of Non-GAAP to GAAP Financial Measures (contd.) ($ in Billions) Q3 FY27 Outlook Non-GAAP gross margin 74.0% Impact of acquisition-related costs and other costs — GAAP gross margin 74.0% Non-GAAP operating expenses 9.0 Acquisition-related costs and other costs 0.2 GAAP operating expens
Slide 16: Reconciliation of Non-GAAP to GAAP Financial Measures (contd.)
Reconciliation of Non-GAAP to GAAP Financial Measures (contd.) Purchases Related to Principal Payments on Property and Equipment Property and Equipment Net Cash Provided by ($ in Millions) Free Cash Flow and Intangible Assets and Intangible Assets Operating Activities Q2 FY2027 $21,341 (2,677) (59)
Slide 17: NVIDIA
NVIDIA. |