Nvidia posts record $96.2bn quarter, up 106% year on year

What happened: Nvidia reported record revenue for the quarter ended 26 July 2026, its fifth straight quarterly earnings beat.

The numbers: Revenue hit $96.2 billion, up 18% on the prior quarter and 106% on a year earlier. That beat the roughly $92.1 billion analyst consensus by about 4.5%. Data-centre revenue reached $89.0 billion, up 117% year on year. Gross margin was 75.0%, net income $59.7 billion, and EPS came in at $2.46 GAAP versus a $2.09 consensus.

Why it matters: The results confirm demand for Nvidia's data-centre chips continues to outstrip expectations, even as the company flags no China data-centre compute revenue in its forecast.

The context: The quarter followed warnings to customers that server prices will rise more than 15% because of memory costs. Nvidia is also backing up to $105 billion of financing for OpenAI's Ohio data centre.

Who's affected: Shareholders received about $26.0 billion in buybacks and dividends, with roughly $99.0 billion still available under the buyback authorisation. The next dividend, $0.25 per share, is payable 1 October. Debt climbed to $33.4 billion from $8.5 billion in January.

What's next: Nvidia guided to $108.0 billion in revenue for the third quarter, plus or minus 2%, on the assumption that China will contribute no data-centre compute revenue.