Nvidia Earnings: Record Q4 revenue and fiscal 2026 results

NVIDIA’s latest release shows record fourth-quarter and fiscal 2026 performance, and the nvidia earnings print underscores how data‑center demand and AI investments are reshaping the company’s results and market reaction. The report includes detailed margins, EPS figures, shareholder returns and commentary from CEO Jensen Huang and CFO Colette Kress.

Fourth quarter totals, fiscal 2026 revenue and margins

fourth‑quarter revenue for the period ended January 25, 2026, was $68. 1 billion, up 20% from the previous quarter and up 73% from a year ago. For fiscal 2026, NVIDIA reported revenue of $215. 9 billion, up 65% from a year ago.

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.

Data center growth: $62. 3 billion and 75% year‑over‑year increase

The company’s data center business again led revenues: the data center vertical grew 75% year‑over‑year to $62. 3 billion. That business now accounts for the vast majority of NVIDIA’s revenue and has been buoyed by heavy industry investment in AI infrastructure.

NVIDIA is described in coverage as the world’s most valuable publicly traded company and is characterized as having dominated the chip market as its processing units have become a backbone of the artificial intelligence boom.

Nvidia Earnings: EPS figures, analyst estimates and stock reaction

For the quarter, NVIDIA reported GAAP and non‑GAAP earnings per diluted share of $1. 76 and $1. 62, respectively; for fiscal 2026, GAAP and non‑GAAP earnings per diluted share were $4. 90 and $4. 77, respectively. Another figure cited for the quarter was $68. 13 billion in revenue, and that figure was noted as above analysts’ prediction of $66. 2 billion.

The chipmaker’s $1. 62 non‑GAAP EPS was cited as beating an analyst estimate of $1. 53 per share. Shares rose by around 3% in after‑hours trading immediately following the earnings report, although those gains dropped to less than 1% as the day went on.

Coverage also notes that NVIDIA’s quarterly earnings have surpassed Wall Street’s expectations every quarter for multiple years, and that throughout the 2024 and 2025 fiscal years the company beat expectations every quarter.

Shareholder returns: buybacks, dividends and remaining authorization

During fiscal 2026, NVIDIA returned $41. 1 billion to shareholders through share repurchases and cash dividends. As of the end of the fourth quarter the company had $58. 5 billion remaining under its share repurchase authorization.

NVIDIA said it 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.

OpenAI negotiations, investor scrutiny and executive comments

Coverage highlighted scrutiny of NVIDIA’s multibillion‑dollar deals with AI firms such as OpenAI, pointing to concerns that circular arrangements—where NVIDIA invests in a company that then buys chips from NVIDIA—have led some analysts to worry the AI industry is on riskier footing. One marquee deal, a proposed $100 billion investment into OpenAI, fell through earlier this month; instead, NVIDIA will reportedly invest $30 billion into OpenAI as OpenAI seeks to go public later this year at a valuation of around $730 billion.

Jensen Huang, NVIDIA’s founder and CEO, was quoted extensively. He said: “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. ” He added: “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. ”

On the company’s earnings call Huang said, “We continue to work with OpenAI towards a partnership agreement, and believe we are close, ” and also said, “In this new world of AI, compute equals revenues. ” Coverage notes Huang has repeatedly downplayed fears that AI will replace workers, including speaking out last month against fears of AI replacing software technologies during a market sell‑off of software stocks, and framing AI at the World Economic Forum in Davos as a job creator that would unlock productivity gains and become a core part of international infrastructure.

Guidance, accounting changes, tax outlook and investor materials

NVIDIA said that beginning in the first quarter of fiscal 2027 it will include stock‑based compensation expense in non‑GAAP financial measures, and that stock‑based compensation is a foundational component of NVIDIA’s compensation program to attract and retain world‑class talent. The company also stated that NVIDIA’s outlook for the first quarter of fiscal 2027 is as follows:

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.

Colette Kress, NVIDIA’s executive vice president and chief financial officer, provided commentary on the quarter; that CFO commentary is available on NVIDIA’s investor relations website. NVIDIA said it will conduct a conference call with analysts and investors to discuss its fourth quarter and fiscal 2026 financial results and current financial prospects today at 2 p. m. Pacific time (5 p. m. Eastern time). A live webcast (listen‑only mode) will be accessible at NVIDIA’s investor relations website; the webcast will be recorded and available for replay until NVIDIA’s conference call to discuss its financial results for its first quarter of fiscal 2027.

The company reiterated its use of non‑GAAP measures to supplement condensed consolidated financial statements presented in accordance with GAAP. These non‑GAAP measures include non‑GAAP gross profit, non‑GAAP gross margin, non‑GAAP operating expenses, non‑GAAP operating income, non‑GAAP other income (expense), net, non‑GAAP net income, non‑GAAP net income, or earnings, per diluted share, and free cash flow. For fiscal years 2025 and 2026 the company has shown a reconciliation of GAAP to non‑GAAP financial measures that adjust the related GAAP financial measures to exclude stock‑based compensation expense, acquisition‑related and other costs, other, gains/losses fr

Coverage also noted broader market context: investors have grown more skeptical in recent months about massive tech spending on AI, with share prices for many of the so‑called Magnificent Seven starting the year off in decline. NVIDIA’s growth has acted as a reassurance to the market and helped spur a stock rally on Wednesday ahead of the company’s earnings report. After years of markets swooning over advances in generative AI, some investors have grown skittish and wary of volatility or potential negative effects on the economy; this week, a piece of speculative fiction from a research firm caused a market downturn and panic on W