Nvidia Forecasts Third-Quarter Revenue of $108 Billion
Key Facts
Nvidia shares’ roughly 3% decline in after-hours trading on November 9, or any link to margin concerns, cannot be confirmed because the Reuters report cited in the source brief could not be accessed. In the latest documented close in the available data, the stock ended the November 6 session at $186.64. That day, shares rose 2.8% after falling 9.3% in the previous session and 3.2% in the session before that, according to the Associated Press. This earlier move places the stock’s performance in the context of volatile sessions before the date in question, but does not establish its movement on November 9. The available financial background centers on the company’s results and forecast for the third quarter of fiscal 2027.
Nvidia reported revenue of $96.2 billion in the second quarter of fiscal 2027, up 18% from the previous quarter and 106% from the same period a year earlier. Gross margin was 75.0% on both a GAAP and non-GAAP basis, according to the company’s statement. Data-center revenue accounted for $89.0 billion of the total, rising 18% quarter over quarter and 117% year over year. These figures show that data-center growth was the biggest driver of revenue in that quarter. But they describe the period ended in July and do not represent data on the stock’s trading on November 9.
The company forecast revenue of $108.0 billion for the third quarter of fiscal 2027, with a forecast margin of ±2%. It put expected gross margin at 74.0% on both a GAAP and non-GAAP basis, with a margin of ±50 basis points. The expected margin is below the 75.0% recorded in the second quarter, while GAAP margin rose from 74.9% in the first quarter to 75.0% in the second quarter. This comparison provides direct context for monitoring margins in upcoming results, alongside expected revenue growth. However, the forecast was issued with the second-quarter results and does not establish that it caused the stock’s movement on November 9.
Nvidia said in its forecast that it assumed no data-center computing revenue from China in the third quarter of fiscal 2027. That means the published forecast includes no contribution from this source in expected revenue, despite data centers accounting for most of the previous quarter’s revenue. Chief Executive Jensen Huang described demand as accelerating and said AI had reached an inflection point and was doing useful, profitable work, adding: "Computing is revenue." The company’s remarks offer an upbeat reading of demand, while the revenue and margin forecast remain the figures it officially announced for the next quarter. The available evidence contains no independent data establishing a specific explanation for the stock’s move on the date in question.
The Associated Press attributed volatility in AI stocks during the week of November 6 to concerns that data-center construction could slow, the possibility of tighter regulation after the U.S. midterm elections, and higher borrowing costs. The report also pointed to concerns about debt and spending levels in the sector, as well as fears that its stocks were highly valued. It said Democratic gains in U.S. states could slow data-center construction, particularly in Texas. These remain market factors cited by the report in the context of sector volatility, not a documented explanation for Nvidia shares’ move on November 9. The available evidence also contains no documented closing prices for AMD, TSM or INTC shares on November 6.
Nvidia scheduled its third-quarter fiscal 2027 earnings conference for November 17, 2026. The conference begins at 2 p.m. Pacific time, or 5 p.m. Eastern time, according to the investor relations announcement. The upcoming results will allow investors to compare actual revenue with the company’s forecast of $108.0 billion and review its target gross margin of 74.0%, with a range of ±50 basis points. The absence of data-center computing revenue from China in the published forecast assumptions will also form part of the context for assessing the figures. Until results are released, the November 6 close of $186.64 remains the latest documented level in the available evidence.