NVIDIA announces financial results for fourth quarter and fiscal 2026
NVIDIA (NASDAQ: NVDA) reported record revenue for the fourth quarter ended January 25, 2026, of $68.1 billion, up 20% from the previous quarter and up 73% from a year ago.
For fiscal 2026, revenue was $215.9 billion, up 65% from a year ago, CE Report informs via the NVIDIA official website.
For the quarter, GAAP and non-GAAP gross margins were 75.0% and 75.2%, respectively. For fiscal 2026, GAAP and non-GAAP gross margins were 71.1% and 71.3%, respectively.
For the quarter, GAAP and non-GAAP earnings per diluted share were $1.76 and $1.62, respectively. For fiscal 2026, GAAP and non-GAAP earnings per diluted share were $4.90 and $4.77, respectively.
“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,” said Jensen Huang, founder and CEO of NVIDIA. “Enterprise adoption of agents is skyrocketing. Our customers are racing to invest in AI compute — the factories powering the AI industrial revolution and their future growth.”
During fiscal 2026, NVIDIA returned $41.1 billion to shareholders in the form of shares repurchased and cash dividends. As of the end of the fourth quarter, the company had $58.5 billion remaining under its share repurchase authorization.
NVIDIA will pay its next quarterly cash dividend of $0.01 per share on April 1, 2026, to all shareholders of record on March 11, 2026.
Q4 Fiscal 2026 Summary
| GAAP | ||||||||||||||
| ($ in millions, except earnings per share) | Q4 FY26 | Q3 FY26 | Q4 FY25 | Q/Q | Y/Y | |||||||||
| Revenue | $68,127 | $57,006 | $39,331 | 20 % | 73 % | |||||||||
| Gross margin | 75.0 % | 73.4 % | 73.0 % | 1.6 pts | 2.0 pts | |||||||||
| Operating expenses | $6,794 | $5,839 | $4,689 | 16 % | 45 % | |||||||||
| Operating income | $44,299 | $36,010 | $24,034 | 23 % | 84 % | |||||||||
| Net income | $42,960 | $31,910 | $22,091 | 35 % | 94 % | |||||||||
| Diluted earnings per share | $1.76 | $1.30 | $0.89 | 35 % | 98 % | |||||||||
| Non-GAAP | ||||||||||||||
| ($ in millions, except earnings per share) | Q4 FY26 | Q3 FY26 | Q4 FY25 | Q/Q | Y/Y | |||||||||
| Revenue | $68,127 | $57,006 | $39,331 | 20 % | 73 % | |||||||||
| Gross margin | 75.2 % | 73.6 % | 73.5 % | 1.6 pts | 1.7 pts | |||||||||
| Operating expenses | $5,102 | $4,215 | $3,378 | 21 % | 51 % | |||||||||
| Operating income | $46,107 | $37,752 | $25,516 | 22 % | 81 % | |||||||||
| Net income | $39,552 | $31,767 | $22,066 | 25 % | 79 % | |||||||||
| Diluted earnings per share | $1.62 | $1.30 | $0.89 | 25 % | 82 % | |||||||||
Fiscal 2026 Summary
| GAAP | ||||||||||||||||
| ($ in millions, except earnings per share) | FY26 | FY25 | Y/Y | |||||||||||||
| Revenue | $215,938 | $130,497 | 65 % | |||||||||||||
| Gross margin | 71.1 % | 75.0 % | (3.9) pts | |||||||||||||
| Operating expenses | $23,076 | $16,405 | 41 % | |||||||||||||
| Operating income | $130,387 | $81,453 | 60 % | |||||||||||||
| Net income | $120,067 | $72,880 | 65 % | |||||||||||||
| Diluted earnings per share | $4.90 | $2.94 | 67 % | |||||||||||||
| Non-GAAP | ||||||||||||||||
| ($ in millions, except earnings per share) | FY26 | FY25 | Y/Y | |||||||||||||
| Revenue | $215,938 | $130,497 | 65 % | |||||||||||||
| Gross margin | 71.3 % | 75.5 % | (4.2) pts | |||||||||||||
| Operating expenses | $16,694 | $11,716 | 42 % | |||||||||||||
| Operating income | $137,300 | $86,789 | 58 % | |||||||||||||
| Net income | $116,997 | $74,265 | 58 % | |||||||||||||
| Diluted earnings per share | $4.77 | $2.99 | 60 % | |||||||||||||
Outlook
Beginning in the first quarter of fiscal 2027, NVIDIA will include stock-based compensation expense in non-GAAP financial measures. Stock-based compensation is a foundational component of NVIDIA’s compensation program to attract and retain world-class talent.
NVIDIA’s outlook for the first quarter of fiscal 2027 is as follows:
- Revenue is expected to be $78.0 billion, plus or minus 2%. NVIDIA is not assuming any Data Center compute revenue from China in its outlook.
- GAAP and non-GAAP gross margins are expected to be 74.9% and 75.0%, respectively, plus or minus 50 basis points, inclusive of a 0.1% impact from stock-based compensation expense.
- 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 the full year fiscal 2027, GAAP and non-GAAP tax rates are expected to be between 17.0% and 19.0%, excluding any discrete items and material changes to NVIDIA’s tax environment.
Photo NVIDIA
