Will NVIDIA (NVDA) beat quarterly earnings?

Analysis

Nvidia reports fiscal second-quarter results after the close on 26 August 2026. The setup still favours another upside surprise. Management guided revenue to roughly $91 billion. The Street sits near $92 billion, and whisper numbers point toward $2.12 in earnings per share, comfortably above the $2.08 consensus figure. That gap matters. Nvidia's own guidance has proven conservative for four straight quarters. Each time, actual results have cleared estimates by 5 to 10 percent. The engine behind that pattern has not slowed. Data-center revenue continues to grow above 90 percent year over year. Blackwell supply remains tight relative to demand, and hyperscaler capital spending shows no sign of easing. Gross margins near 75 percent give the company room to absorb minor cost surprises without threatening the bottom line. The case for caution is real but narrow. A margin slip, a China-related shipment complication, or softer-than-expected guidance could trim the size of the beat. A result of exactly $2.08 would resolve against a positive outcome. But none of those risks have shown up in recent commentary. The scale of AI infrastructure spending makes a genuine miss the less likely outcome by a wide margin. The one thing to watch: non-GAAP gross margin in the official release. Anything meaningfully below the 75 percent target would be the first real sign of friction in an otherwise relentless growth story.