Complete NVIDIA (NVDA) Q3 Earnings Coverage

Core Insights - NVIDIA is expected to report strong fiscal Q3 2026 results, building on a record Q2 revenue of $46.7 billion, driven by high demand for Blackwell and growth in networking [1][2] - The company is positioned well for 2026 with significant growth in AI infrastructure demand, as evidenced by projected revenue and EPS growth of 57% and 55% year-over-year, respectively [3] Group 1: Financial Performance - Revenue for Q3 FY2026 is estimated at $55.09 billion, up from $35.08 billion in the same quarter last year [3] - Normalized EPS is projected to be $1.26, compared to $0.81 a year ago [3] - Full-year 2026 revenue is expected to reach $207.95 billion, significantly higher than $130.5 billion in 2025 [3] Group 2: Key Areas to Watch - Blackwell ramp and GB300 production are critical, with production currently at about 1,000 racks per week, and investors are keen on updates regarding GB300 capacity scaling [4] - Networking revenue reached a record $7.3 billion last quarter, with NVLink, Spectrum-X, and InfiniBand showing strong growth, which is vital for AI factory economics [5] - The impact of China licensing and H20 uncertainty is significant, with potential revenue of $2–5 billion from H20 shipments to China if licensing is approved, but visibility remains limited [6]