Nvidia Earnings Crush Q4 Estimates: $68 Billion Quarter Silences AI Bubble Fears
Nvidia delivered its most consequential earnings report of the year Wednesday, February 25, 2026 ET, smashing Wall Street expectations on every major metric. The world's most valuable publicly traded company posted record Nvidia earnings of $68.13 billion in Q4 revenue, up 73% year over year, while CEO Jensen Huang declared the agentic AI inflection point has officially arrived.
Nvidia Earnings Beat: Revenue and EPS Top Every Estimate
Nvidia reported fiscal Q4 adjusted earnings per share of $1.62 versus analyst estimates of $1.53, and total revenue of $68.13 billion against an expected $66.21 billion. The beat was decisive across every line item. Net income nearly doubled to $43 billion, or $1.76 per share, compared to $22.1 billion, or $0.89 per share, in the same quarter one year earlier.
For the full fiscal year 2026, Nvidia revenues hit $215.9 billion, up 65% from the prior year, with GAAP operating income of $130.4 billion and net income of $120.1 billion. The scale of those figures underscores just how dominant Nvidia has become in the global AI infrastructure buildout.
Nvidia Data Center Revenue Climbs 75% to $62.3 Billion
The beating heart of Nvidia's Nvidia earnings report remains its data center division. Data center revenue climbed 75% from a year earlier to $62.3 billion, surpassing analyst expectations of $60.69 billion, and the company now derives over 91% of total sales from that segment alone.
Hyperscalers — Alphabet, Amazon, Meta, and Microsoft — remained Nvidia's largest customer category, accounting for just over 50% of data center revenue. Combined capital expenditure forecasts for those four companies alone could approach $700 billion in 2026, with the bulk flowing directly into AI chip infrastructure.
Jensen Huang: Agentic AI Inflection Has Arrived
Jensen Huang used Wednesday's earnings call to deliver an emphatic rebuttal to AI skeptics. "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," Huang said.
Huang told analysts that the industry has undergone three structural platform shifts — from CPUs to GPU-driven computing, from traditional machine learning to generative AI, and from generative AI to agentic AI — each justifying massive investment on its own. On the OpenAI partnership front, Huang told analysts that Nvidia continues to work toward finalizing a partnership agreement and believes the companies are close.
Q1 Nvidia Guidance Blows Past Wall Street Expectations
The Nvidia earnings call's most explosive moment came with forward guidance. Nvidia's Q1 guidance midpoint landed at $78 billion in revenue versus a Wall Street consensus estimate of $72.8 billion — a massive upside surprise that underscored the magnitude of near-term demand for AI compute.
CFO Colette Kress told analysts that sequential revenue growth is expected throughout all of calendar 2026, exceeding what was included in the $500 billion Blackwell and Rubin revenue opportunity the company had previously outlined. That projection signals that Nvidia's dominant position in the AI chip market shows no signs of slowing in 2026.
Nvidia Stock Performance and Full-Year Revenue Trajectory
Nvidia shares rose 2.2% in after-hours trading following the Nvidia earnings release, extending their lead as the best-performing Magnificent 7 stock year to date with a 3.4% gain in 2026, compared to the S&P 500's 0.7% rise. The stock closed Wednesday's regular session at $196.62 before the after-hours move.
Nvidia revenues rose each quarter of fiscal 2026 — from $44.1 billion in Q1, to $46.7 billion in Q2, to $57 billion in Q3, to $68.1 billion in Q4 — a trajectory few companies of any size have ever achieved. With $78 billion now targeted for Q1 of the next fiscal year, Nvidia's Nvidia earnings dominance in the AI era appears firmly intact.
