Nvda Posts Record $68.1B Quarter and $215.9B Year, but Stock Stalls After $6B Guide Beat
nvda reported record revenue of $68. 1 billion for the quarter ended January 25, 2026, and fiscal 2026 revenue of $215. 9 billion, but the stock slipped after the company guided the current quarter roughly $6 billion above consensus estimates.
Quarterly results show huge revenue and high margins
The company posted GAAP and non-GAAP gross margins of 75. 0% and 75. 2% for the quarter. For fiscal 2026, GAAP and non-GAAP gross margins were 71. 1% and 71. 3%. GAAP and non-GAAP earnings per diluted share for the quarter were $1. 76 and $1. 62; for fiscal 2026 those measures were $4. 90 and $4. 77.
Shareholder returns, dividend and repurchase authority
During fiscal 2026 the company returned $41. 1 billion to shareholders through share repurchases and cash dividends. As of the end of the fourth quarter, $58. 5 billion remained under the company’s share repurchase authorization. The next quarterly cash dividend of $0. 01 per share will be paid on April 1, 2026, to shareholders of record on March 11, 2026.
Executive comments and accounting changes
Founder and CEO Jensen Huang said the "agentic AI inflection point has arrived, " adding that "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. " enterprise adoption of agents is skyrocketing and customers are investing in AI compute. 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 talent.
Nvda guidance, analyst debate and market reaction
The company guided the current quarter roughly $6 billion above consensus estimates, and the stock was down in Thursday morning trading. Analysts and market commentators debated whether the mid-70% gross margins and strong fundamentals were already priced in. Melissa Otto, head of TMT research at Visible Alpha, said she was surprised by the stock reaction to a company outlook that the panel described as about $6 billion above consensus. The discussion included host Brian Sozzi and Nancy Tengler, CEO and CIO of Laffer Tengler Investments.
Panel details: guidance range, margins and valuation views
Panelists cited the company’s first-quarter guide as roughly in the 77 to 79 billion range while noting consensus at 72. 4 billion. They pointed to mid-70s gross margins as already reflected in valuations. Nancy Tengler said she saw the situation as similar to past pullbacks and recalled an opportunity to buy the stock at just over $100 a share; she noted expectations of 60+% earnings growth and said the stock traded at a price-to-earnings multiple she described as somewhere below 25 times next year’s earnings. The panel also discussed that China has not yet fully participated in demand and referenced a figure of 30 billion in sovereign revenues that was three times year-over-year growth.
Non-GAAP reconciliations and tax expectations
it uses non-GAAP measures to supplement GAAP results and provided reconciliations for fiscal years 2025 and 2026 that adjust GAAP measures to exclude stock-based compensation expense, acquisition-related and other costs, and other gains and losses. 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.
The company 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 in listen-only mode will be accessible on the company’s investor relations website, and the webcast will be recorded and available for replay until the company’s conference call for its first quarter of fiscal 2027.
