NVIDIA Q1 Fiscal 2027 Earnings: Data Center Demand Drives Record $81.6B Quarter
NVIDIA's fiscal Q1 2027 revenue jumped 85% year-over-year to $81.6 billion, led by explosive demand for AI data-center chips, while the company guided higher for next quarter.
| Q1 2027 | Reported |
|---|---|
| EPS | $2.39 |
| Revenue | $81.61B |
Figures as reported by the company to the SEC for the quarter ended April 26, 2026. Analyst estimates are not part of a filing, so no comparison to expectations is shown.
Key takeaways
- Total revenue came in at $81.6 billion, up 85% from the same quarter a year earlier and up 20% from the previous quarter, as demand for AI computing hardware continued to climb.
- The Data Center segment — chips and systems sold to cloud providers and companies building AI infrastructure — was the main engine of growth, bringing in $75.2 billion, up 92% year-over-year and now accounting for roughly nine of every ten dollars NVIDIA took in.
- Profitability remains unusually high for a hardware company: over the trailing year, NVIDIA kept about 63 cents of every revenue dollar as profit after all costs and taxes, with gross margin (what’s left after production costs) above 74%, reflecting strong pricing power for its AI chips.
- Return on equity — a measure of how efficiently the company turns shareholders’ capital into profit — stood at roughly 112% over the trailing year, an unusually high level driven by rapid earnings growth outpacing NVIDIA’s equity base.
- NVIDIA returned about $20 billion to shareholders in the quarter through stock buybacks and dividends, which the company called a record level of capital return.
- For the current quarter, NVIDIA guided to revenue of about $91 billion, plus or minus 2%, and said the outlook does not include any Data Center chip sales to China, reflecting ongoing U.S. export restrictions on advanced AI chips.
- Gross margin is expected to hold around 75% next quarter, suggesting the company expects to keep its current level of profitability even as it scales production.
- CEO Jensen Huang described the buildout of AI data centers as “the largest infrastructure expansion in human history,” pointing to rapid adoption of AI systems that can autonomously perform tasks (often called “agentic AI”) across companies and industries.
- Despite the strong headline numbers, some coverage noted the stock’s reaction was muted, with investors focused on the China export restrictions and the sustainability of the current pace of AI spending by NVIDIA’s largest customers.
Q1 2027 in context
| Metric | Apr 2026 | Apr 2025 | Change |
|---|---|---|---|
| Revenue | $81.6B | $44.1B | +85.2% |
| Net income | $58.3B | $18.8B | +210.6% |
| Free cash flow | $48.6B | $26.2B | +85.5% |
| Diluted EPS | $2.39 | $0.76 | +214.5% |
| Gross margin | 74.9% | 60.5% | +14.4 pts |
| Operating margin | 65.6% | 49.1% | +16.5 pts |
| Net margin | 71.5% | 42.6% | +28.8 pts |
Figures for the quarter ended Apr 2026 and the quarter ended Apr 2025, as reported to the SEC.
Each company's quarter ending in calendar Q2 '26, as reported to the SEC. A peer that reported no revenue figure for that quarter is left out.
How the stock took it
NVIDIA Corporation closed at $220.61 on May 19, 2026, the last session before the report, and at $219.51 on May 21, 2026, the first session after it — -0.5% across the report.
| Earlier report | Close before | Close after | Change |
|---|---|---|---|
| Nov 19, 2025 | $181.36 | $180.64 | -0.4% |
Closes from the market's daily record. Each figure spans the report date — from the last session that closed before it to the first that closed after — because a company may report before the open or after the close.
Sources: company report · CNBC