Nvidia will report results for its fiscal third quarter of 2027 (the quarter ended October 25, 2026) on Tuesday, November 17, 2026, after the market close. The company has guided to revenue of $108.0 billion, plus or minus 2%, and Wall Street’s consensus sits slightly above that, near $108.8 billion in revenue and about $2.47 in earnings per share (as of November 11, 2026). For the first time in Nvidia’s history as a public company, the report will arrive without Jensen Huang as CEO: he resigned on November 12, and CFO Colette Kress is now interim CEO, so this quarter will be about much more than the numbers.
When Nvidia Reports and What the Company Has Guided
According to Nvidia’s investor relations announcement, the results will be released after the close on November 17, and a conference call will follow at 2 p.m. Pacific (5 p.m. Eastern). Written CFO commentary is typically posted shortly before the call. The company reconfirmed the date in its November 12 leadership announcement.
Nvidia’s own Q3 FY2027 outlook
The outlook Nvidia gave in its second-quarter fiscal 2027 results release on August 26, 2026, is the bar the market will measure against:
- Revenue: $108.0 billion, plus or minus 2% (a range of roughly $105.8 billion to $110.2 billion).
- Gross margin: 74.0% (GAAP and non-GAAP), plus or minus 50 basis points.
- Operating expenses: about $9.2 billion GAAP and about $9.0 billion non-GAAP.
- Tax rate: 16.0% to 18.0% for full fiscal 2027, excluding discrete items.
- China: the outlook assumes no Data Center compute revenue from China.
How that compares with recent quarters
| Quarter | Report date | Revenue | Next-quarter guidance given | Stock reaction (summary) |
|---|---|---|---|---|
| Q3 FY2026 | Nov 19, 2025 | $57.0B | $65.0B | Early after-hours gains faded; shares closed lower the next day |
| Q4 FY2026 | Feb 25, 2026 | $68.1B | $78.0B | Rose after hours, then fell in the next regular session |
| Q1 FY2027 | May 20, 2026 | $81.6B | About $91B | Slipped roughly 1%–2% after the report |
| Q2 FY2027 | Aug 26, 2026 | $96.2B | $108.0B | Fell about 3% in after-hours trading |
| Q3 FY2027 | Nov 17, 2026 | Consensus ~$108.8B | To be announced | Options implied about ±10.6% move (as of Nov 10, 2026) |
Revenue figures are as reported by Nvidia; reaction summaries reflect contemporaneous market coverage, and exact percentages vary by source depending on whether after-hours or regular-session moves are measured.
What Wall Street Expects
According to a MarketPulse (OANDA) preview published November 11, 2026, consensus estimates call for revenue of about $108.84 billion, up roughly 91% year over year, and EPS of about $2.47, up roughly 90%. In other words, analysts expect Nvidia to land modestly above the midpoint of its own guidance, a smaller “beat” cushion than in many past quarters.
Most previews argue the stock reaction will hinge less on the third-quarter numbers and more on the fourth-quarter (January 2027) revenue outlook, because that guide signals whether AI infrastructure orders stay strong into 2027. MarketPulse noted that options markets were pricing a move of about ±10.6% as of November 10, 2026, above the stock’s roughly ±7.8% ten-year average earnings-day move cited in the same report.
The Q2 baseline
In the July quarter, Nvidia reported record revenue of $96.2 billion, up 18% sequentially and 106% year over year. Data Center revenue was $89.0 billion, up 117% year over year, and the newly reported Edge Computing segment (which now includes the former Gaming business) brought in $7.2 billion. GAAP gross margin was 75.0%, GAAP EPS was $2.46 and non-GAAP EPS was $2.22. Nvidia returned about $26 billion to shareholders through buybacks and dividends and had about $99 billion left on its repurchase authorization.
What to Watch in the Report
1. Data center growth and customer mix
In her Q2 commentary, as reported by Constellation Research, Kress said hyperscale revenue more than doubled year over year, while revenue from AI-native companies, enterprises, sovereign customers and AI clouds rose 138%. Investors will look for whether that broadening continues, because it reduces Nvidia’s dependence on a handful of cloud giants whose capital budgets are under scrutiny.
2. Blackwell Ultra and the Vera Rubin ramp
Q2 growth was driven by Blackwell Ultra, and Nvidia said its next-generation Vera Rubin platform had moved into full production, with racks running at partners including CoreWeave, Google Cloud, Microsoft Azure, Oracle Cloud Infrastructure and Nebius. Analysts will want to hear how quickly Rubin revenue scales, whether the transition causes any gap in shipments, and how supply of advanced packaging and high-bandwidth memory is holding up.
3. Gross margins and supply commitments
Guidance implies gross margin dipping to about 74% from 75% in Q2, a typical pattern during a product transition. A related watch item: Kress said Nvidia’s supply and purchase commitments rose from $119 billion to $279 billion in Q2, mainly for memory procurement. Bulls read that as confidence in demand; skeptics see inventory and pricing risk if orders slow. Any update on that figure will be closely parsed.
4. China
Nvidia’s guidance assumes zero Data Center compute revenue from China, and Kress said Hopper shipments to China were less than 1% of Data Center revenue in Q2. Any change in US export policy, or any commentary on China tied to the board’s ongoing investigation, could move the stock either way.
5. Leadership and governance
This is the new and unusual variable. According to Nvidia’s November 12, 2026 announcement filed with the SEC, Jensen Huang resigned as president, CEO and board member effective immediately. Colette Kress will serve as interim CEO while remaining CFO, director Harvey C. Jones was named the board’s first-ever chair, and the board has begun a search for a permanent CEO considering internal and external candidates. The release said the company expects its “operations, customer commitments and product roadmap to continue without interruption.”
The resignation followed days of news coverage beginning November 8, when the board said it had opened an independent investigation, overseen by independent directors with outside counsel, into reports that Huang had been the target of a foreign intelligence effort. The board said at the time it had “no reason to believe that either national security or NVIDIA secrets were compromised.” Nvidia’s resignation announcement did not state a reason. On the call, analysts are likely to ask about the status of the investigation, the CEO search, employee retention and whether any customers have changed plans.
How the Stock Has Traded Into the Report
Nvidia enters earnings well off its highs. According to CNBC, shares closed at $173.73 on November 11, 2026, down from a record closing high of $239.24 on October 6. On November 12, the stock fell more than 13% at the open after the CEO announcement before recovering most of the loss to close down 4.3%, leaving Nvidia’s market value just above $4 trillion. Several brokerages cut price targets that day, and KeyBanc and Bernstein were among the firms that downgraded the stock.
The slide began before the leadership news. On November 5, 2026, a broad AI-stock sell-off sent the S&P 500 down 4.4% and the Nasdaq down 5.5%, according to the Associated Press, with Nvidia falling 9.3% and acting as the biggest drag on the index. Investors questioned how quickly AI spending turns into revenue and how fast data-center construction can proceed. For background on the election that preceded that week, see our 2026 midterm election results overview.
A pattern of “beat and fade”
One pattern stands out: over the past several reports, Nvidia has beaten expectations and raised guidance, yet the stock has often fallen afterward. Analysts have generally attributed this to very high expectations and crowded positioning. This time, the setup is different. The stock has already dropped sharply and sentiment is weaker, which some strategists argue lowers the bar, while others warn that leadership uncertainty could weigh on the shares regardless of the numbers.
What It Means for Investors and Business Owners
Nvidia’s report is a read-through for the entire AI supply chain, from cloud providers and chip foundries to memory makers and data-center builders. For Korean investors in particular, Nvidia’s commentary on memory demand matters for SK hynix and Samsung Electronics, both major high-bandwidth memory suppliers. For US small businesses, the indirect impact runs through retirement accounts and index funds, where Nvidia is one of the largest weights in the S&P 500 and Nasdaq-100.
Key questions for the call include whether Kress reaffirms long-term demand comments previously made by Huang, whether Q4 guidance continues the pattern of double-digit sequential growth, and how the company addresses governance. A strong quarter with a confident Q4 outlook could ease some concerns; a cautious guide combined with leadership uncertainty could extend the sell-off. Neither outcome is certain.
Key Takeaways
- Nvidia reports Q3 FY2027 results after the close on Tuesday, November 17, 2026; the call starts at 5 p.m. ET.
- Company guidance: $108.0 billion revenue (±2%) and about 74% gross margin; consensus is about $108.8 billion revenue and $2.47 EPS (as of November 11, 2026).
- The Q4 FY2027 outlook, Vera Rubin ramp, gross margins, supply commitments and China are the main numbers to watch.
- Jensen Huang resigned on November 12, 2026; CFO Colette Kress is interim CEO and Harvey C. Jones is board chair.
- Shares were down roughly 27% from their October 6 closing high as of the November 11 close, and options priced about a ±10.6% move as of November 10, 2026.
Frequently Asked Questions (FAQ)
When is Nvidia’s next earnings report?
Nvidia reports fiscal Q3 2027 results on Tuesday, November 17, 2026, after the US market close, with a conference call at 2 p.m. PT / 5 p.m. ET. In Korea, that is Wednesday morning, November 18 (about 7 a.m. KST for the call).
What revenue is Nvidia expected to report for Q3 fiscal 2027?
Nvidia guided to $108.0 billion, plus or minus 2%. Analyst consensus was about $108.8 billion, with EPS of about $2.47, as of November 11, 2026.
Who is Nvidia’s CEO now?
Colette Kress, Nvidia’s CFO, is serving as interim CEO after Jensen Huang resigned on November 12, 2026. She remains CFO, and the board is searching for a permanent CEO.
Why has Nvidia stock fallen in November 2026?
Two factors stand out: a broad AI-stock sell-off on November 5, 2026, driven by concerns about AI spending returns and data-center build-out timelines, and the governance news that began November 8 and led to Huang’s resignation on November 12.
Does Nvidia’s guidance include sales to China?
No. Nvidia’s Q3 outlook assumes no Data Center compute revenue from China, and China Hopper shipments were less than 1% of Data Center revenue in Q2.
This article is for general information only and is not investment advice. Do your own research or consult a licensed financial advisor before making investment decisions.
Sources
- Nvidia: NVIDIA Sets Conference Call for Third Quarter Financial Results
- Nvidia: Financial Results for Second Quarter Fiscal 2027
- SEC filing: Nvidia CEO transition announcement (Nov 12, 2026)
- CNBC: Nvidia CEO Jensen Huang resigns, live updates
- MarketPulse: Nvidia Q3 earnings preview
- Constellation Research: Nvidia Q2 results and CFO commentary
- Associated Press: AI stock sell-off sends S&P 500 down 4.4%
