NVDA Stock: Nvidia Earnings Preview as Wall Street Eyes ~$92B Revenue

NVDA stock heads into its most important catalyst of the quarter on August 26, 2026. Nvidia reports Q2 FY27 earnings after market close, covering the period ending July 27. FactSet and LSEG consensus places revenue between $91.85 billion and $92.10 billion, just above management’s own guidance of $91.0 billion, plus or minus 2%. 

That midpoint would mark roughly 96% year-over-year growth from $46.74 billion a year earlier. Shares closed August 20 at $217.56, near the upper half of their 52-week range.

What Analysts Are Expecting From Nvidia’s Q2 Results

Consensus estimates place Nvidia’s (NASDAQ: NVDA) earnings per share near $2.06 to $2.08, roughly double last year’s $1.05. That comparison highlights just how fast data center demand has scaled over twelve months.

• Nvidia’s Q1 FY27 revenue hit $81.6 billion, up 85% year-over-year.
• That figure also marked 20% sequential growth from the prior quarter.
• Full-year FY26 revenue reached $215.9 billion, up 65% from FY25.

Some bull-case estimates run notably higher than consensus. Bank of America’s whisper-level target reaches as high as $95 billion, well above the FactSet average. RBC Capital reiterated its Outperform rating on August 20, holding a $300 price target, while Jefferies recently forecast a “beat and raise” quarter, per TipRanks coverage.

BREAKING $WMT – @Reuters "Walmart reports rare comparable sales miss as consumers cut spending, shares fall"

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— Mike (@MikeLongTerm) August 20, 2026

Blackwell Ramp Remains the Key Swing Factor

Nvidia’s Blackwell architecture, including B100 and B200 accelerators, continues driving the growth story. The chips deliver two to three times the performance of prior Hopper-based systems for AI workloads. 

Investors will watch gross margin durability closely, since Nvidia has targeted roughly 75% margins this year. Supply availability and hyperscaler capital spending will shape how much of this demand actually converts into shipped revenue.

China Remains a Wildcard for Nvidia Guidance

China exposure continues clouding Nvidia’s outlook heading into this report. Nvidia shipped no Data Center Hopper products to China in Q1 FY27, compared with $4.6 billion a year earlier. The company still reported $4.55 billion in China-headquarters revenue, a geographic measure that includes Hong Kong. 

Recent reports suggest small batches of H200 chips have started reaching China again, though Beijing’s own restrictions could still limit any meaningful revenue upside from that market this quarter.

NVDA Stock Price and Wall Street Analyst Sentiment Today 

NVDA shares traded in a range of $215.66 to $219.86 on August 20, 2026, with a market capitalization near $5.27 trillion. The stock’s 52-week range spans $164.07 to $236.54, reflecting a strong run over the past year.

• The average 12-month analyst price target sits near $304.12.
• Fifty-eight analysts rate the stock a buy, with just one sell rating.
• That mix gives NVDA a Strong Buy consensus heading into earnings.

Peers including AMD, Broadcom, and Taiwan Semiconductor Manufacturing will likely see correlated moves depending on Nvidia’s guidance tone.

Our Take

Nvidia’s August 26 report hinges less on beating consensus near $92 billion and more on next-quarter outlook, margin durability, and China visibility. A clean beat could reinforce the stock’s Strong Buy rating and current momentum.

Disclaimer:

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