10-Q 季报仅提供 GAAP 数据
| 指标 | Q2 FY2026 | Q1 FY2026 | Q/Q | Q2 FY2025 | Y/Y |
|---|---|---|---|---|---|
| 营收 Revenue | $46,743M | $44,062M | +6% | $30,040M | +56% |
| 毛利率 Gross Margin | 72.4% | 60.5% | +11.9 ppt | 75.1% | -2.7 ppt |
| 研发费用 R&D | $4,291M | $3,989M | +8% | $3,090M | +39% |
| 销售及管理 SG&A | $1,122M | $1,041M | +8% | $842M | +33% |
| 折旧摊销 D&A | $669M | $611M | +9% | $433M | +55% |
| 股权激励 SBC | $1,624M | $1,474M | +10% | $1,154M | +41% |
| 营业利润 Operating Income | $28,440M | $21,638M | +31% | $18,642M | +53% |
| 利息费用 Interest Expense | $62M | $63M | -2% | $61M | +2% |
| 净利润 Net Income | $26,422M | $18,775M | +41% | $16,599M | +59% |
| 指标 | Q2 FY2026 | Q1 FY2026 | Q/Q | Q2 FY2025 | Y/Y |
|---|---|---|---|---|---|
| 每股收益 EPS | $1.08 | $0.76 | +42% | $0.67 | +61% |
| 稀释股数 Diluted Shares | 24,532M | 24,611M | -0% | 24,848M | -1% |
| 实际税率 Effective Tax Rate | 15.3% | 14.3% | +1.0 ppt | 13.6% | +1.7 ppt |
| 板块 | 收入 | 占比 | QoQ | YoY |
|---|---|---|---|---|
| Data Center | $41,096M | 87.9% | +5% | +56% |
| Gaming | $4,287M | 9.2% | +14% | +49% |
| Professional Visualization | $601M | 1.3% | +18% | +32% |
| Automotive | $586M | 1.3% | +3% | +69% |
| OEM & Other | $173M | 0.4% | +56% | +97% |
| 板块 | 收入 | 占比 | QoQ | YoY |
|---|---|---|---|---|
| United States | $23,470M | 50.2% | +13% | +80% |
| Singapore | $10,156M | 21.7% | +13% | +81% |
| Taiwan | $8,529M | 18.2% | +19% | +49% |
| China (including Hong Kong) | $2,769M | 5.9% | -50% | — |
| Other | $1,819M | 3.9% | +12% | -9% |
按账单地址统计。 Singapore 22% of revenue; >99% of controlled DC compute billed to Singapore was for U.S.-based customers.
| 项目 | 占比 |
|---|---|
| Customer A | 23% |
| Customer B | 16% |
两个直接客户 (客户A 23%, 客户B 16%) 归属于计算与网络部门. Two indirect customers estimated >=10% each.
本季度数据
| 指标 | Q2 FY2026 | Q1 FY2026 | 变化 |
|---|---|---|---|
| 暂无动态指标配置 | |||
以下观点摘自 10-Q MD&A 管理层讨论章节
"数据中心计算收入同比增长62%，受Blackwell计算平台需求推动。数据中心网络收入同比增长79%，受GB200和GB300系统NVLink计算互联、XDR InfiniBand产品放量以及云服务商和消费互联网公司采用以太网AI方案推动。"
"毛利率从去年同期的75.1%降至72.4%，因Blackwell收入主要来自整机数据中心系统，而去年同期以Hopper HGX系统为主。"
"2026财年第二季度和上半年库存及超额库存采购义务计提分别为10亿和63亿美元，其中包括Q1因H20超额库存和采购义务产生的45亿美元。"
"我们估计2026财年Q2和上半年，一家AI研究与部署公司通过多种直接和间接客户为我们贡献了相当规模的收入。"
| 指标 | 数值 | 备注 |
|---|---|---|
| inventory_provision_q2 | $1.0B | Q2 FY2026 inventory + excess inventory purchase obligations provision; net unfavorable margin impact of 1.1% |
| h20_charge_h1 | $4.5B | H20 excess inventory and purchase obligations charge in Q1 FY2026 due to export restrictions |
| share_repurchase_authorization | $71.2B | Total available for repurchase as of Aug 26, 2025, including $60B additional authorization |
| unearned_sbc | $14.0B | Aggregate unearned stock-based compensation expense, weighted avg recognition 2.2 years |
| publicly_held_equity_securities | $3,199M | Publicly-held equity securities including $2.8B reclassified from non-marketable in Q1 with short-term sale restriction |
| future_lease_obligations | $7.1B | Expected new data center leases to commence between Q3 FY2026 and FY2030, terms 2-15 years |