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.
NVDA YoY Financials
Q4 2026 vs Q4 2025, source: SEC Filings
NVDA Revenue by Segment
With YoY comparisons, source: SEC Filings
“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
NVDA Earnings Trends
NVDA vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
NVDA EPS Trend
Earnings per share: estimate vs actual
NVDA Revenue Trend
Quarterly revenue: estimate vs actual
NVDA Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 26 BEAT FY | $1.52 | $1.62 | +6.58% | $68.13B | — |
| FY Full Year | — | $4.77 | — | $215.94B | — |
| Q3 26 BEAT | $1.24 | $1.30 | +4.84% | $57.01B | — |
| Q2 26 BEAT | $1.01 | $1.05 | +3.96% | $46.74B | — |
| Q1 26 BEAT | $0.75 | $0.81 | +8.00% | $44.06B | — |