Q1 27 EPS
$1.87
BEAT +5.42%
Est. $1.77
Q1 27 Revenue
$81.62B
BEAT +3.16%
Est. $79.12B
vs S&P Since Q1 27
-6.0%
TRAILING MARKET
NVDA -5.8% vs S&P +0.2%
Market Reaction
Did NVDA Beat Earnings? Q1 2027 Results
NVIDIA delivered a powerful first quarter for fiscal 2027, posting non-GAAP diluted EPS of $1.87 against a consensus estimate of $1.77, a beat of 5.42% that extends the chipmaker's streak of exceeding Wall Street expectations to four consecutive quar… Read more NVIDIA delivered a powerful first quarter for fiscal 2027, posting non-GAAP diluted EPS of $1.87 against a consensus estimate of $1.77, a beat of 5.42% that extends the chipmaker's streak of exceeding Wall Street expectations to four consecutive quarters. Revenue of $81.61 billion topped estimates by 3.16% and surged 85.2% year over year, powered almost entirely by an explosive Data Center segment that generated $75.25 billion, up 92% from the prior-year period, as hyperscalers rushed to absorb Blackwell 300 architecture compute capacity and demand for networking solutions including InfiniBand and NVLink tripled. Non-GAAP gross margins expanded to 75.0% from 60.8% a year ago, a comparison aided by a $4.50 billion H20 inventory charge that burdened the year-ago quarter. With analysts already closely watching the company's China exposure ahead of the print, NVIDIA shipped no H20 compute products to the region this quarter. Looking ahead, the company guided Q2 revenue to $91.00 billion, plus or minus 2%, with non-GAAP gross margins expected to hold at 75.0%.
Key Takeaways
- • Ramp of Blackwell 300 products driving Data Center compute revenue growth
- • Surging demand for InfiniBand, Spectrum-X Ethernet, and NVLink networking solutions driving 199% YoY networking revenue growth
- • Continued diversification of Data Center customer base across AI clouds, industrial, enterprise, and sovereign customers
- • Lower inventory provisions compared to year-ago quarter which included $4.5 billion H20 charge boosting gross margin YoY
- • Robust Blackwell workstation demand driving Edge Computing growth
- • $15.9 billion net gains from equity securities driving GAAP net income surge
NVDA Forward Guidance & Outlook
For Q2 fiscal 2027, NVIDIA expects revenue of $91.0 billion, plus or minus 2%, excluding any Data Center compute revenue from China. GAAP and non-GAAP gross margins are expected to be 74.9% and 75.0%, respectively, plus or minus 50 basis points. GAAP and non-GAAP operating expenses are expected to be approximately $8.5 billion and $8.3 billion, respectively. For full-year fiscal 2027, GAAP and non-GAAP tax rates are expected to be between 16.0% and 18.0%, excluding discrete items. The company expects a substantial increase in cash taxes in Q2 related to estimated federal and state cash tax payments. NVIDIA has strategically secured inventory and capacity to meet demand beyond the next several quarters, with total supply-related commitments of $119.0 billion.
NVDA YoY Financials
Q1 2027 vs Q1 2026, source: SEC Filings
NVDA Revenue by Segment
With YoY comparisons, source: SEC Filings
“The buildout of AI factories — the largest infrastructure expansion in human history — is accelerating at extraordinary speed.”
— Jensen Huang, Q1 2027 Earnings Press Release
NVDA Earnings Trends
NVDA vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
NVDA EPS Trend
Earnings per share: estimate vs actual
NVDA Revenue Trend
Quarterly revenue: estimate vs actual
NVDA Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 27 BEAT | $1.77 | $1.87 | +5.42% | $81.62B | +3.16% |
| Q4 26 BEAT FY | $1.54 | $1.62 | +5.32% | $68.13B | +2.86% |
| FY Full Year | — | $4.77 | — | $215.94B | — |
| Q3 26 BEAT | $1.25 | $1.30 | +3.64% | $57.01B | +3.59% |
| Q2 26 BEAT | $1.01 | $1.05 | +4.00% | $46.74B | +1.32% |
| Q1 26 BEAT | $0.75 | $0.81 | +8.01% | $44.06B | +1.88% |