NVIDIA FY26 Q3 Earnings Preview

NVIDIA Corporation (NASDAQ: NVDA) will report its Q3 FY26 results on 19 November 2025 after the US market close, for the quarter ended October 2025.

As the leading provider of AI-accelerated computing, NVIDIA’s numbers are expected to set the tone for the broader AI, semiconductor and cloud-infrastructure space.

Key Expectations

NVIDIA’s own guidance for Q3 FY26 calls for revenue of US$54.0 billion ±2%, driven primarily by data-centre AI demand.

Street consensus is clustered close to this range:

Revenue: around US$54.6–55.0 billion, implying ~50–56% year-on-year growth.

Adjusted EPS: US$1.23–1.26, also expected to grow by more than 50% YoY.

Options markets are pricing an implied move of roughly ±7% around the event, signalling expectations of a meaningful post-earnings reaction.

What the Market Will Focus On

Data-centre AI demand

Momentum in Blackwell and H100 shipments

Order visibility from major cloud providers and large enterprises

China & export restrictions

Revenue impact from US controls on advanced AI chips

Management’s ability to redirect growth to other regions

Margins & guidance

Delivery against guided gross margins in the low-to-mid-70% range

Revenue and margin outlook for Q4 FY26 and beyond

Analyst Sentiment

Wall Street remains strongly positive on NVIDIA:

Average 12-month target: around US$230–240 per share, implying notable upside from current levels.

The vast majority of analysts rate the stock Buy / Strong Buy, with only one well-known Sell rating out of roughly 60+ covering the name.

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