Nvidia's official revenue guidance for the second quarter is $91 billion, but market expectations have risen to around $91.8 billion to $92 billion. If you focus solely on whether the company exceeded its forecast, you might miss the stock price trend immediately after the announcement.
From the perspective of Korean investors, Nvidia's earnings announcement Around 5:20 AM on August 27, 2026It starts at [time], and the conference call continues at 6 a.m. In this post, I will summarize the order in which you should review the data right before the earnings release, from the announcement time to revenue, EPS, data centers, Blackwell, and next quarter guidance.
First, check the NVIDIA earnings release date and time.
The release date for Nvidia's Q2 2027 fiscal year earnings is U.S. local time August 26, 2026It is. In Korean time, the date has changed, so we will see the earnings data in the early hours of August 27th.
Official earnings data is scheduled to be released around 1:20 PM Pacific Time, or around 4:20 PM Eastern Time. Converted to Korea Time, Around 5:20 AM on August 27And, the conference call will be held at 6:00 AM.
The quarter covered by this announcement ended on July 26, 2026. Since the domestic stock market opens for the morning session on the same day, figures released in the early hours and after-hours stock price reactions can be immediately reflected in investor sentiment at the start of trading.
The times Korean investors should remember are the earnings release around 5:20 a.m. on August 27 and the conference call at 6 a.m.
Compare with market expectations before official guidance.
NVIDIA's Q2 revenue guidance is $91 billion with a margin of ±21 TP3T. Calculated as a range, this is approximately $89.2 billion to $92.8 billion, representing an increase of about 11.51 TP3T based on the median guidance compared to the previous quarter's revenue of $81.615 billion.
However, the criteria for how the stock price reacts differ between official forecasts and market consensus. As the market projects second-quarter revenue to be around $91.8 billion to $92 billion and adjusted EPS to be between $2.08 and $2.09, we must differentiate between whether the company's guidance is exceeded and whether the consensus is surpassed.
For example, even if revenue exceeds $91 billion, disappointment selling may occur if it falls short of market expectations of around $92 billion. Conversely, if the numbers outperform expectations and the outlook for the next quarter rises, whether the profit forecast subsequently increases again becomes a more important trend than on the day of the announcement.
Explore the connection between data center revenue and AI investment.
Data center revenue in the previous quarter was $75.2 billion, an increase of 921% year-over-year. Given the significant share of data centers in NVIDIA's total revenue, the growth rate of this business and the flow of new orders are considered key aspects of this announcement.
It is also important to see whether the increased AI capital investment by big tech companies like Microsoft, Amazon, Alphabet, and Meta has actually translated into NVIDIA accelerator orders and revenue. The criterion for judgment is not the capital investment plan itself, but whether product shipments, customer demand, and supply schedules are specifically presented in the earnings report.
We must also assess whether the supply of the Blackwell platform is smooth and whether demand from key customers continues. Future growth rates could be determined by whether existing Blackwell sales remain stable and the product transition to the next-generation Vera Rubin platform proceeds smoothly.
Gross margins and next-quarter guidance show the quality of growth.
NVIDIA's Q2 non-GAAP gross margin forecast is within the range of ±0.51 TP3T points to 75.01 TP3T. Since the non-GAAP gross margin in the previous quarter was also 75.01 TP3T, the key factor determining the quality of these figures is whether high profitability can be maintained while revenue increases.
While exceeding $90 billion in revenue is a notable achievement in itself, investors are watching to see if data center growth and margins continue into the next quarter. With the market forecasting approximately $103.1 billion in revenue for the next quarter, it is important to see if the new guidance aligns with this level.
China data center compute revenue also needs to be examined separately. Since China data center compute revenue was not included in this official guidance, you must differentiate between how the Chinese business impacts actual revenue and future outlook during the earnings announcement and conference call.
Examine the connections between domestic semiconductor stocks and related stocks.
Nvidia's earnings can also impact domestic semiconductor stocks such as Samsung Electronics and SK Hynix. In this case, the key link is the supply and demand schedule for HBM used in AI accelerators, and the impact on domestic companies' performance should not be calculated in the same magnitude based solely on the fact that Nvidia's stock price has risen.
Companies specializing in power, cooling, and data center equipment fall into the category of indirect beneficiaries of AI infrastructure expansion. However, rather than classifying them as "Nvidia-related stocks," one must prioritize evidence leading to profitability, such as actual partnerships, revenue contributions, and new orders.
Even if Nvidia's stock price rises immediately after an announcement, related domestic stocks do not all move in the same direction. In cases where market expectations have already been reflected, profit-taking selling pressure may emerge after earnings exceed forecasts; conversely, there are instances where the stock price reaction of domestic partner companies is more significant than that of Nvidia.
Do not immediately link positive earnings news to a rise in stock prices.
| item | Standard value | Judgment criteria after presentation |
|---|---|---|
| sales | Official guidance of $91 billion | Whether to surpass market expectations of $91.8 billion to $92 billion |
| Adjusted EPS | $1.87 in the previous quarter | Compared to market forecast of $2.08–$2.09 |
| Non-GAAP total margin | Guidance 75.01 TP3T ±0.51 TP3T points | Whether the previous quarter's level of 75.01 TP/3T is maintained |
| Next quarter sales | Market forecast approximately $103.1 billion | Check if the new guidance meets expectations |
Analysis has also been presented indicating that in seven out of the last eight quarters, the stock price reaction following earnings announcements was not as good as expected. This does not mean that earnings are poor, but rather that when pre-announcement expectations and valuations are already reflected in the stock price, further upside may be limited based on the numbers alone.
Nvidia's 12-month forward P/E ratio was cited as approximately 25 times, and it was around 35 to 40 times prior to earnings announcements for 2024–2025. While the lower P/E ratio is a factor that eases the burden compared to the past, it can only lead to a revaluation of the stock price if the condition that earnings forecasts are maintained or raised is also met.
Ahead of the announcement, you can check revenue, adjusted EPS, data center growth, gross margin, Blackwell supply, China revenue, and next-quarter guidance all at once. By comparing the numbers with management's explanations in this order, it becomes easier to determine whether the performance can be sustained, rather than relying on a simple 'earnings surprise.'.