Filing Flows › NVIDIA (NVDA) › Guidance history
NVIDIA (NVDA) guidance history: what it guided and what it reported
NVIDIA gave guidance in 12 earnings releases on file since Nov 21, 2023. Of 26 guided periods since reported, it met or beat its own guidance 24 times (92%). Revenue: 7 of 7, on average +4.6% against the guided midpoint.
Revenue
Met or beat 7 of 7 periods (7 above, 0 within, 0 below).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q3 FY27 | $105.8B–$110.2B (Aug 26, 2026) | — | to be reported | — |
| Q2 FY27 | $89.2B–$92.8B (May 20, 2026) | $96.2B | above the range | +5.7% |
| Q1 FY27 | $76.4B–$79.6B (Feb 25, 2026) | $81.6B | above the range | +4.6% |
| Q4 FY26 | $63.7B–$66.3B (Nov 19, 2025) | $68.1B | above the range | +4.8% |
| Q3 FY26 | $52.9B–$55.1B (Aug 27, 2025) | $57.0B | above the range | +5.6% |
| Q2 FY26 | $44.1B–$45.9B (May 28, 2025) | $46.7B | above the range | +3.9% |
| Q1 FY26 | $42.1B–$43.9B (Feb 26, 2025) | $44.1B | above the range | +2.5% |
| Q4 FY25 | $36.8B–$38.2B (Nov 20, 2024) | $39.3B | above the range | +4.9% |
GAAP gross margin
Met or beat 6 of 7 periods (1 above, 5 within, 1 below).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q3 FY27 | 73.5%–74.5% (Aug 26, 2026) | — | to be reported | — |
| Q2 FY27 | 74.4%–75.4% (May 20, 2026) | 75.0% | within the range | +0.1 pts |
| Q1 FY27 | 74.4%–75.4% (Feb 25, 2026) | 74.9% | within the range | +0.0 pts |
| Q4 FY26 | 74.3%–75.3% (Nov 19, 2025) | 75.0% | within the range | +0.2 pts |
| Q3 FY26 | 72.8%–73.8% (Aug 27, 2025) | 73.4% | within the range | +0.1 pts |
| Q2 FY26 | 71.3%–72.3% (May 28, 2025) | 72.4% | above the range | +0.6 pts |
| Q1 FY26 | 70.1%–71.1% (Feb 26, 2025) | 60.5% | below the range | -10.1 pts |
| Q4 FY25 | 72.5%–73.5% (Nov 20, 2024) | 73.0% | within the range | +0.0 pts |
| Q3 FY25 | 73.9%–74.9% (Aug 28, 2024) | — | — | — |
| Q2 FY25 | 74.3%–75.3% (May 22, 2024) | — | — | — |
Adjusted gross margin
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q3 FY27 | 73.5%–74.5% (Aug 26, 2026) | — | to be reported | — |
| Q2 FY27 | 74.5%–75.5% (May 20, 2026) | — | — | — |
| Q1 FY27 | 74.5%–75.5% (Feb 25, 2026) | — | — | — |
| Q4 FY26 | 74.5%–75.5% (Nov 19, 2025) | — | — | — |
| Q3 FY26 | 70.0% (Aug 27, 2025) | — | — | — |
| Q2 FY26 | 71.5%–72.5% (May 28, 2025) | — | — | — |
| Q1 FY26 | 70.5%–71.5% (Feb 26, 2025) | — | — | — |
| Q4 FY25 | 73.0%–74.0% (Nov 20, 2024) | — | — | — |
| Q3 FY25 | 74.5%–75.5% (Aug 28, 2024) | — | — | — |
| Q2 FY25 | 75.0%–76.0% (May 22, 2024) | — | — | — |
GAAP operating expenses
Met or beat 6 of 7 periods (1 above, 3 within, 3 below).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q3 FY27 | $9.2B (Aug 26, 2026) | — | to be reported | — |
| Q2 FY27 | $8.5B (May 20, 2026) | $8.4B | within the range | -1.1% |
| Q1 FY27 | $7.7B (Feb 25, 2026) | $7.6B | within the range | -1.0% |
| Q4 FY26 | $6.7B (Nov 19, 2025) | $6.8B | above the range | +1.4% |
| Q3 FY26 | $5.9B (Aug 27, 2025) | $5.8B | within the range | -1.0% |
| Q2 FY26 | $5.7B (May 28, 2025) | $5.4B | below the range | -5.0% |
| Q1 FY26 | $5.2B (Feb 26, 2025) | $5.0B | below the range | -3.3% |
| Q4 FY25 | $4.8B (Nov 20, 2024) | $4.7B | below the range | -2.3% |
| Q3 FY25 | $4.3B (Aug 28, 2024) | — | — | — |
| Q2 FY25 | $4.0B (May 22, 2024) | — | — | — |
Adjusted operating expenses
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q3 FY27 | $9.0B (Aug 26, 2026) | — | to be reported | — |
| Q2 FY27 | $8.3B (May 20, 2026) | — | — | — |
| Q1 FY27 | $7.5B (Feb 25, 2026) | — | — | — |
| Q4 FY26 | $5.0B (Nov 19, 2025) | — | — | — |
| Q3 FY26 | $4.2B (Aug 27, 2025) | — | — | — |
| Q2 FY26 | $4.0B (May 28, 2025) | — | — | — |
| Q1 FY26 | $3.6B (Feb 26, 2025) | — | — | — |
| Q4 FY25 | $3.4B (Nov 20, 2024) | — | — | — |
| Q3 FY25 | $3.0B (Aug 28, 2024) | — | — | — |
| Q2 FY25 | $2.8B (May 22, 2024) | — | — | — |
GAAP tax rate
Met or beat 5 of 5 periods (0 above, 1 within, 4 below).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY27 | 17.0%–19.0% (Feb 25, 2026) → lowered 16.0%–18.0% (May 20, 2026) → reaffirmed 16.0%–18.0% (Aug 26, 2026) | — | to be reported | — |
| Q4 FY26 | 16.0%–18.0% (Nov 19, 2025) | 14.8% | below the range | -2.2 pts |
| Q3 FY26 | 15.5%–17.5% (Aug 27, 2025) | 15.9% | within the range | -0.6 pts |
| Q2 FY26 | 15.5%–17.5% (May 28, 2025) | 15.3% | below the range | -1.2 pts |
| Q1 FY26 | 16.0%–18.0% (Feb 26, 2025) | 14.3% | below the range | -2.7 pts |
| Q4 FY25 | 15.5%–17.5% (Nov 20, 2024) | 12.4% | below the range | -4.1 pts |
| Q3 FY25 | 16.0%–18.0% (Aug 28, 2024) | — | — | — |
| Q2 FY25 | 16.0%–18.0% (May 22, 2024) | — | — | — |
| Q1 FY25 | 16.0%–18.0% (Feb 21, 2024) | — | — | — |
| Q4 FY24 | 14.0%–16.0% (Nov 21, 2023) | — | — | — |
The latest quarter
NVIDIA, Q2 FY27: revenue $96.2B (+106% year over year), operating margin 66.2%, net earnings $59.7B, operating cash flow $24.1B. The chart follows the revenue to costs, profit and cash.
Questions
Does NVIDIA beat its guidance?
NVIDIA gave guidance in 12 earnings releases on file since Nov 21, 2023. Of 26 guided periods since reported, it met or beat its own guidance 24 times (92%). Revenue: 7 of 7, on average +4.6% against the guided midpoint.
Each guided period is held to the last guidance given before its figures were reported; a single figure counts as in line within 1% (0.25 pts for a rate). Reported figures are GAAP, from the company's filings; adjusted guidance shows its moves only.