Santa clara: The US technology company NVIDIA (NASDAQ: NVDA) has reported a revenue of USD 46.7 billion for the second quarter, which ended on July 27, 2025. This marks a six percent increase from the previous quarter and a 56 percent rise compared to the same period last year.
According to Kuwait News Agency, NVIDIA's Blackwell Data Center revenue saw a 17 percent sequential growth. The California-based company revealed that there were no H20 sales to China-based customers during the second quarter. NVIDIA capitalized on a USD 180 million release of previously reserved H20 inventory, accompanied by approximately USD 650 million in unrestricted H20 sales to a customer outside of China.
The company reported GAAP and non-GAAP gross margins of 72.4 percent and 72.7 percent, respectively, for the quarter. Excluding the USD 180 million release, the non-GAAP gross margin for the quarter would have been 72.3 percent. GAAP and non-GAAP earnings per diluted share were noted as USD 1.08 and USD 1.05, respectively. Without the USD 180 million release and related tax impact, the non-GAAP diluted earnings per share would have been USD 1.04.
Jensen Huang, founder and CEO of NVIDIA, highlighted the capabilities of the Blackwell AI platform, noting its significant generational advancement and the rapid ramp-up in production. He emphasized the revolutionary impact of NVIDIA NVLink rack-scale computing, especially as AI models necessitate enhanced training and inference performance.
In the first half of fiscal 2026, NVIDIA returned USD 24.3 billion to shareholders through share repurchases and cash dividends. By the end of the second quarter, the company had USD 14.7 billion remaining under its share repurchase authorization. Additionally, on August 26, 2025, the Board of Directors approved an extra USD 60.0 billion for the Company's share repurchase authorization, with no expiration.
NVIDIA announced a quarterly cash dividend of $0.01 per share, payable on October 2, 2025, to all shareholders of record on September 11, 2025. Looking ahead to the third quarter of fiscal 2026, the company expects revenue to be USD 54.0 billion, plus or minus two percent, with no assumptions for H20 shipments to China included in the outlook.
The company anticipates GAAP and non-GAAP gross margins to be 73.3 percent and 73.5 percent, respectively, plus or minus 50 basis points. NVIDIA aims to conclude the year with non-GAAP gross margins in the mid-70 percent range. For the third quarter, GAAP and non-GAAP operating expenses are expected to be approximately USD 5.9 billion and USD 4.2 billion, respectively. The full year fiscal 2026 operating expense growth is projected to be in the high-30 percent range.
NVIDIA forecasts GAAP and non-GAAP other income and expenses to be an income of approximately USD 500 million, excluding gains and losses from non-marketable and publicly-held equity securities. The GAAP and non-GAAP tax rates are anticipated to be 16.5 percent, plus or minus one percent, excluding any discrete items.