NVIDIA — 2026Q2 earnings
reported 2026-05-20
EPS $1.87 vs $1.77 est — beat
next session -1.8% (close 2026-05-20 → 2026-05-21)
Source
8-K filing ↗Summary
A record quarter powered by Data Center, with revenue growth accelerating to 85% and both halves of the segment setting records — networking growing far faster than compute. Guidance steps up to $91.0 billion and deliberately assumes no China data-center compute revenue, even though H200 shipments to China are licensed (they have generated no revenue yet). Jensen Huang attributed the surge to the arrival of agentic AI; Vera Rubin production shipments are on track for the second half beginning in Q3, and capital returns stepped up sharply with an additional $80 billion buyback authorization and a dividend raised from $0.01 to $0.25 per share, alongside a reorganization into two reporting platforms, Data Center and Edge Computing.
Earnings call
Earnings call webcast ↗Review
From the report
A record quarter powered by Data Center, with guidance stepping higher while assuming no China data-center compute revenue, alongside a sharp step-up in capital returns.
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Revenue set a company record, with growth accelerating to 85% year over year. show quote
“NVIDIA (NASDAQ: NVDA) today reported record revenue for the first quarter ended April 26, 2026, of $81.6 billion, up 20% from the previous quarter and up 85% from a year ago.”
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Both halves of Data Center set records, with networking growing far faster than compute. show quote
“Under the previous sub-markets, Data Center compute revenue was a record $60.4 billion, up 77% from a year ago and up 18% sequentially. Data Center networking revenue was a record $14.8 billion, up 199% from a year ago and up 35% sequentially.”
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Guidance steps up to $91.0 billion next quarter and deliberately assumes no Data Center compute revenue from China. show quote
“Revenue is expected to be $91.0 billion, plus or minus 2%. NVIDIA is not assuming any Data Center compute revenue from China in its outlook.”
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Capital returns stepped up sharply: an additional $80.0 billion buyback authorization and a dividend raised from $0.01 to $0.25 per share. show quote
“On May 18, 2026, the Board of Directors approved an additional $80.0 billion to the Company’s share repurchase authorization, without expiration. NVIDIA is increasing its quarterly cash dividend from $0.01 per share to $0.25 per share of common stock, which will be paid on June 26, 2026, to all shareholders of record on June 4, 2026.”
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Reporting segments are being reorganized into two platforms, Data Center and Edge Computing. show quote
“NVIDIA is transitioning to a new reporting framework that better reflects its current and future growth drivers. NVIDIA will have two market platforms — Data Center and Edge Computing.”
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From the call
Management framed the surge as agentic-AI demand gone parabolic, kept China out of the outlook despite H200 licenses, and put Vera Rubin production shipments on track for the second half.
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Jensen Huang attributed the demand surge to the arrival of agentic AI. show quote
“Demand has gone parabolic. The reason is simple. Agentic AI has arrived.”
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H200 shipments to China are licensed but have generated no revenue yet. show quote
“While the US government has approved licenses for H200 to be shipped to China based customers, we have yet to generate any revenue.”
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Vera Rubin production shipments are on track for the second half, beginning in Q3. show quote
“We are on track to commence production shipments of VeraRubin in the second half of this year starting in Q3.”
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as of 2026-08-10