Nvidia sees Q2 sales at $91 billion

2026-05-21

Nvidia sees Q2 sales at $91 billion

AI chips drive growth

Nvidia on Wednesday said revenue for the May-July 2026 quarter is expected to rise 95% from a year earlier to $91 billion, topping the roughly $87 billion average estimate compiled by QUICK and FactSet on strong demand for artificial intelligence chips.

The company also reported April-quarter revenue of $81.615 billion, up 85% year on year, and net profit of $58.321 billion, 3.1 times higher. Net profit marked a record for a quarterly basis. Earnings per share came in at $2.39, above the pre-announced estimate of $1.75. The stock was little changed after hours as buying and selling orders offset each other.

Another $80 billion buyback

Nvidia also unveiled an additional $80 billion share buyback plan. Cash on hand has been building on expanding sales of AI chips, allowing the company to boost returns to shareholders. Gross margin for the May-July 2026 quarter is projected at 75%, unchanged from the April quarter. Investors closely watch gross margin as a gauge of the companys pricing power.

Chief Financial Officer Colette Kress said in an earnings call that the April quarter was exceptionally strong, with revenue, operating profit and free cash flow all hitting record highs. Chief Executive Officer Jensen Huang said there would eventually be billions of AI agents worldwide, though not immediately.

China sales not included

On its China business, exports of H200 high-end AI chips included in the Hopper product line unveiled in 2022 were conditionally approved by the U.S. government. But sales have been sluggish, as the Chinese government is believed to be pressuring local companies not to use the products.

Nvidia said the same day that it had no Hopper exports, including H200, for Chinas data centers in the April quarter. It also is not expecting any computing-related revenue from Chinas data centers in the May-July quarter.

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