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NVIDIA

NVDA Q4 2026 Earnings

Reported Feb 25, 2026 at 4:31 PM ET · SEC Source

Q4 26 EPS

$1.62

BEAT +6.58%

Est. $1.52

Q4 26 Revenue

$68.13B

vs S&P Since Q4 26

-3.3%

TRAILING MARKET

NVDA +1.3% vs S&P +4.5%

Full Year 2026 Results

FY 26 EPS

$4.77

FY 26 Revenue

$215.94B

Market Reaction

Did NVDA Beat Earnings? Q4 2026 Results

NVIDIA closed fiscal 2026 with a record-breaking fourth quarter, posting non-GAAP EPS of $1.62 against a consensus estimate of $1.52, a beat of 6.58%, as revenue climbed 73.2% year-over-year to $68.13 billion. The dominant force behind the result was… Read more NVIDIA closed fiscal 2026 with a record-breaking fourth quarter, posting non-GAAP EPS of $1.62 against a consensus estimate of $1.52, a beat of 6.58%, as revenue climbed 73.2% year-over-year to $68.13 billion. The dominant force behind the result was an insatiable appetite for AI infrastructure, with Data Center revenue alone reaching $62.31 billion in the quarter, a 75% year-over-year gain fueled by hyperscaler deployments and a rapidly expanding base of non-hyperscaler customers adopting Blackwell-generation hardware. Networking revenue within that segment surged 263% year-over-year to $10.98 billion, driven by NVLink fabric ramp for GB200 and GB300 systems, underscoring how deeply NVIDIA's full-stack platform has embedded itself in large-scale AI buildouts, a dynamic reflected in the broader CapEx acceleration across major cloud operators. Non-GAAP gross margins expanded to 75.2%, and free cash flow reached $34.90 billion for the quarter. Looking ahead, the company guided Q1 FY2027 revenue of approximately $78.00 billion, though notably excluding any Data Center compute revenue from China amid ongoing regulatory uncertainty.

Key Takeaways

  • • Accelerated computing and AI platform shifts driving record Data Center demand
  • • Blackwell architecture ramp with improved mix and cost structure expanding gross margins
  • • NVLink compute fabric ramp for GB200 and GB300 systems driving 263% YoY networking revenue growth
  • • Hyperscaler revenue growth with diversification to non-hyperscaler Data Center customers
  • • Strong Blackwell demand driving 47% YoY Gaming revenue growth and 159% YoY Professional Visualization growth
  • • Lower inventory provisions contributing to gross margin expansion

NVDA Forward Guidance & Outlook

For Q1 FY2027, NVIDIA expects revenue of approximately $78.0 billion, plus or minus 2%, explicitly excluding any Data Center compute revenue from China. GAAP and non-GAAP gross margins are expected to be 74.9% and 75.0%, respectively, plus or minus 50 basis points. GAAP and non-GAAP operating expenses are expected to be approximately $7.7 billion and $7.5 billion, respectively, inclusive of $1.9 billion of stock-based compensation expense. For full year FY2027, GAAP and non-GAAP tax rates are expected to be between 17.0% and 19.0%. Beginning in Q1 FY2027, NVIDIA will include stock-based compensation expense in non-GAAP financial measures. Supply constraints are expected to be a headwind to Gaming in Q1 FY2027 and beyond.

24/7 Wall St

NVDA YoY Financials

Q4 2026 vs Q4 2025, source: SEC Filings

24/7 Wall St

NVDA Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 26 Q4 26

“Computing demand is growing exponentially — the agentic AI inflection point has arrived. Grace Blackwell with NVLink is the king of inference today — delivering an order-of-magnitude lower cost per token — and Vera Rubin will extend that leadership even further.”

— Jensen Huang, Q4 2026 Earnings Press Release

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