EARNINGS & CATALYSTS · November 10, 2026
NVIDIA earnings preview: AI demand and margins face a test on November 17, 2026
NVIDIA reports after close on November 17. Watch AI demand, profit margins and the next sales outlook, while an independent board investigation adds uncertainty.
| Company | Report date | Window | EPS estimate | Revenue estimate |
|---|---|---|---|---|
| NVIDIA Corporation (NVDA) | November 17, 2026Issuer confirmed | After close | 2.47 | 108.8B |
1) When will NVIDIA report, and what is expected?
NVIDIA confirmed fiscal third-quarter 2027 results for November 17, 2026, after close, covering the quarter ended October 25. As of November 10, Benzinga’s consensus was $108.98 billion in revenue and $2.48 in adjusted diluted earnings per share (EPS, or profit per share). These analyst estimates can change and are separate from company guidance. Adjusted earnings exclude selected items and differ from standard accounting profit.
2) What do the last two quarters show?
Fiscal first-quarter revenue was $81.615 billion with adjusted EPS of $1.87; the second quarter delivered $96.221 billion and $2.22. Both exceeded the release-date consensus used in the comparison image. The stock fell 1.8% from the May 20 close to the May 21 close, but rose 8.7% from the August 26 close to the August 27 close. Strong reported growth alone does not determine the market reaction. NVIDIA’s adjusted earnings now include stock-based pay; AMD uses its own adjustments, so the two companies’ profit measures are not identical.
3) What changed ahead of the report?
On November 8, NVIDIA’s board announced an independent investigation following reports that Jensen Huang had been targeted by a foreign intelligence effort. The board expressed confidence in management and said it had no reason to believe secrets or national security had been compromised. The inquiry remains open. Updates could affect investor confidence separately from quarterly sales.
4) How the business makes money
NVIDIA sells computing chips, networking equipment, systems and software used to train and run AI models. It also serves graphics and other computing markets. Customers buy an integrated platform, so growth depends on both chip demand and the ability to deliver complete systems.
5) What to watch
Watch whether customer orders turn into delivered systems and cash, and whether the next sales forecast supports continued growth. The November 8 collaboration with Rebellions and SK Telecom would connect Korean-designed processors to NVIDIA infrastructure. This could broaden demand for NVIDIA networking and system designs, but the planned deployment is not yet reported revenue.
6) Recently reported peers
AMD reported November 3 revenue of $13.377 billion and adjusted EPS of $2.09, beating its release-date consensus by 2.1% and 10.6%, respectively. It issued a fourth-quarter sales outlook of $17 billion, plus or minus 3%. AMD competes in AI accelerators and sells server processors, so its growth shows both strong infrastructure demand and an alternative for customers.
7) Risks into the report
Customer spending could slow before new capacity pays for itself. Export rules can limit access to China, while new chip generations may raise production costs. An adverse investigation update could add pressure independently of earnings. Watch the outlook and cash generation rather than assuming another earnings beat will lift the stock.
8) Insider activity over the past three months
$0 bought and $967.6M sold in reported trades. 0% buy / 100% sell by value. 0 insiders bought only, 3 sold only, and 0 did both.
