Nvidia's Q1 Earnings Soar | Generated by AI
Question: What are Nvidia’s latest earnings results — today, May 21, 2026?
Answer:
Hot off the press — Nvidia just reported Q1 FY2027 results after market close yesterday (May 20, 2026). It’s a blowout.
Nvidia Q1 FY2027 — Key Numbers
| Metric | Result | Consensus Estimate | YoY |
|---|---|---|---|
| Revenue | $81.6B | ~$78.8B | +85% |
| Data Center Revenue | $75B | ~$73B | +92% |
| QoQ Revenue Growth | +20% | — | — |
Nvidia reported record revenue for Q1 ended April 26, 2026, of $81.6 billion — up 20% from the prior quarter and up 85% year-over-year.
Data center revenue hit $75 billion, up 92% year-over-year and 21% sequentially, driven by the Blackwell architecture ramp.
What’s Driving It
- Blackwell is the engine. Blackwell drove ~70% of data center compute revenue last quarter. The Hopper transition is essentially complete — this is now a Blackwell story.
- Agentic AI inflection. Jensen’s framing: “Computing demand is growing exponentially — the agentic AI inflection point has arrived. Grace Blackwell with NVLink is the king of inference today — delivering an order-of-magnitude lower cost per token — and Vera Rubin will extend that leadership even further.”
- Hyperscaler capex cycle intact. Hyperscaler capex has been revised up to roughly $725 billion for 2026. Sovereign AI tripled to over $30 billion in fiscal 2026.
Forward Guidance (Q2 FY2027)
The Q2 guidance number is what the market cared most about — consensus was $86B. A guide in-line or above signals the AI capex cycle is still accelerating; anything at $83–85B reads as deceleration even on a clean Q1 beat.
From the CFO’s call: “Q1 of next is certainly going to be very big as well.” — implying continued strength into Q2.
Stock Reaction
Stock rose after the print, reversing the trend of Nvidia beating but selling off. Context: NVDA had closed lower on four of its last five earnings reports despite consistent beats — the buyside default had been to fade a routine beat. February 2026 beat 3.4% and fell 5.5%. This quarter the beat was large enough to move the stock up.
Key Watch Items Going Forward
- Vera Rubin ramp — samples already in customer hands, production timing in late 2026 is what investors are underwriting.
- China — H20 revenue was effectively zeroed by April 2025 export rules. H200 partial reopening has yet to translate into recognized revenue. Jensen commented that China policy resolution depends on government decisions, but signaled optimism.
- Gross margins — consensus was 74.5%, guidance ~75%. Margin trajectory matters more than headline revenue now that Blackwell is at scale.
TL;DR: Nvidia crushed it. $81.6B vs $78.8B estimate. Data center +92% YoY. Agentic AI demand is real and compounding. Vera Rubin is the next catalyst. If Q2 guidance holds above $86B, the bull case remains fully intact.
References:
- Nvidia Investor Relations — Q1 FY2027 Press Release
- Earnings Call Transcript — Investing.com
- Kiplinger Live Coverage