Nvidia Announces Record Fiscal 2026 Results as Earnings Beat and AI Debate Intensifies

Mo. Basuony

Published: February 25, 2026 9:32 PM ET

Nvidia Announces Record Fiscal 2026 Results as Earnings Beat and AI Debate Intensifies

nvidia reported record revenue for the fourth quarter ended January 25, 2026, and for fiscal 2026, delivering strong margins and earnings that underscore the company’s central role in the ongoing AI debate. These results matter because they both quantify recent growth and feed market questions about whether the AI-driven expansion is sustainable or an overblown craze.

Nvidia posts record revenue and margin performance

The company reported fourth-quarter revenue of $68. 1 billion, up 20% from the previous quarter and up 73% from a year ago. For fiscal 2026, revenue totaled $215. 9 billion, an increase of 65% from the prior year. 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.

Nvidia earnings per share and shareholder returns

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. During fiscal 2026, the company returned $41. 1 billion to shareholders through share repurchases and cash dividends, with $58. 5 billion remaining under its share repurchase authorization. The company will pay a quarterly cash dividend of $0. 01 per share on April 1, 2026, to shareholders of record on March 11, 2026.

Guidance, tax outlook and accounting change for non-GAAP measures

Nvidia’s outlook for the first quarter of fiscal 2027 is presented by the company; the context states "NVIDIA’s outlook for the first quarter of fiscal 2027 is as follows: " but detailed quarterly figures are unclear in the provided context. 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 the company’s tax environment. Beginning in the first quarter of fiscal 2027, the company will include stock-based compensation expense in non-GAAP financial measures, noting that stock-based compensation is a foundational component of its compensation program to attract and retain world-class talent.

Conference call, investor materials and non-GAAP reconciliation details

The company scheduled a conference call to discuss its fourth quarter and fiscal 2026 financial results at 2 p. m. Pacific time (5 p. m. Eastern time). A live webcast in listen-only mode will be accessible on the company’s investor relations website; the webcast will be recorded and available for replay until the conference call to discuss results for the first quarter of fiscal 2027. CFO commentary by Colette Kress is noted as available. To supplement condensed consolidated financial statements presented in accordance with GAAP, the company uses non-GAAP measures, listing 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. The reconciliations for fiscal years 2025 and 2026 adjust the related GAAP financial measures to exclude stock-based compensation expense, acquisition-related and other costs, other, gains/losses fr — unclear in the provided context.

Market context and broader reactions to Nvidia’s momentum

Headline coverage earlier framed the company as delivering another quarter of stellar growth while investors weighed whether the technology’s surge represents overblown hype or the start of sustained productivity gains. All eyes were said to be on the company’s fourth-quarter results, which were due after the closing bell on Wednesday in earlier previews. The S&P 500 was described as on track for double-digit earnings growth, with more than half of companies having reported Q4 results so far.

Other notable headlines from the day

St. John’s managed just 40 points in a game on Wednesday, identified as the fewest a Rick Pitino-led team has ever put up in a game.
Jontay Porter, who pleaded guilty in a gambling scandal and is still awaiting sentencing, is set to join the Seattle Super Hawks.
A former Colts coach finished his 17th season as an NFL analyst for NBC.
Sabathia’s number will be the 23rd the club has retired.
An All-Pro kicker is described as a restricted free agent for the Cowboys this offseason.
Skenes lost to a robot during his spring training debut on Wednesday.
Andrew Siciliano is joined by Jori Epstein and Charles Robinson to cover the latest news coming out of the NFL Combine.
Donald Trump drew laughs from the men’s team when he said he would have to invite the women’s team to the White House too, or he would be impeached.

Company leadership framed the performance in AI terms: Jensen Huang, founder and CEO, said computing demand is growing exponentially and that the agentic AI inflection point has arrived; he highlighted Grace Blackwell with NVLink as the current leader in inference for delivering an order-of-magnitude lower cost per token, and said Vera Rubin will extend that leadership further. These remarks were presented by the company as part of its commentary on enterprise adoption and customer investment trends.

Recent previews and the company’s reported results together set the stage for ongoing scrutiny of the AI economy: strong financials reinforce the current narrative of rapid growth, while market debate continues over the durability of that expansion.