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NVIDIA (NVDA) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Aug 27, 2025
NVIDIA (NVDA) reported revenue of $46.7B for the second quarter fiscal 2026 (Q2 FY26), +56% from a year earlier and +6% from the quarter before. Operating margin was 60.8%, net earnings $26.4B (56.5% of revenue).
NVIDIA, Q2 FY26: revenue $46.7B (+56% year over year), operating margin 60.8%, net earnings $26.4B, operating cash flow $15.4B. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $46.7B | +6% | +56% |
| Gross profit | $33.9B | +27% | +50% |
| Operating profit | $28.4B | +31% | +53% |
| Net earnings | $26.4B | +41% | +59% |
| Operating cash flow | $15.4B | -44% | +6% |
| Free cash flow | $13.5B | -49% | -0.3% |
What changed
Revenue was $46.7B in Q2 FY26, up 56% year over year and up 6% from the previous quarter. Compute was the largest line at 72% of revenue. Compute added $11.2B year over year (up 50%), 67% of the total change.
Gross margin was 72.4%, down 2.7 points from a year earlier. Operating profit was $28.4B, a 60.8% margin (down 1.2 points year over year). Of the extra revenue versus a year earlier, 59% reached operating profit, below the 62% margin then. Operating expenses grew 38% against revenue growth of 56%. The fastest-growing cost line was Research & development (+39%). Net earnings were $26.4B, up 59% year over year. The effective tax rate was 15.3%.
Operating cash flow was $15.4B (up 6% year over year), 58% of net earnings. Non-cash charges added back $0.67B of depreciation and amortization and $1.6B of share-based compensation. Working capital and other items used $13.4B. Capital expenditures of $1.9B left free cash flow of $13.5B.
Questions
What was NVIDIA's revenue in the second quarter fiscal 2026?
NVIDIA (NVDA) reported revenue of $46.7B for the second quarter fiscal 2026 (Q2 FY26), +56% from a year earlier and +6% from the quarter before.
Was NVIDIA profitable in the second quarter fiscal 2026?
Operating profit was $28.4B (60.8% of revenue) and net earnings $26.4B.
Source: NVIDIA 10-Q on SEC EDGAR.