NVIDIA Financial Report: Q4 Revenue of $68.1 billion hits a record high, surpassing $215.9 billion for the year

NVIDIA (NVDA) announced its financial results for the fourth quarter of fiscal year 2026, with quarterly revenue reaching $68.127 billion, a new record high, up 20% quarter-over-quarter and 73% year-over-year. Full-year revenue for FY2026 totaled $215.938 billion, up 65% year-over-year, with GAAP annual net income of $120.067 billion. For the next quarter (Q1 FY2027), revenue is projected to be approximately $78 billion.

Key Financial Data for Q4 FY2026

(Source: NVIDIA)

NVIDIA’s Q4 financial metrics all reached new highs. Below is a summary of key data.

Q4 FY2026 Financial Highlights

• Total Quarterly Revenue: $68.127 billion, up 20% quarter-over-quarter, 73% year-over-year
• Data Center Quarterly Revenue: $62.3 billion, up 22% quarter-over-quarter, 75% year-over-year (full year: $193.7 billion, up 68%)
• GAAP Gross Margin: 75.0% (Non-GAAP: 75.2%)
• GAAP Quarterly Net Income: $42.96 billion, up 35% quarter-over-quarter, 94% year-over-year
• GAAP Diluted EPS: $1.76, up 35% quarter-over-quarter, 98% year-over-year
• Full-Year Total Revenue: $215.938 billion, up 65%
• Full-Year GAAP Net Income: $120.067 billion, up 65%
• Full-Year Shareholder Returns: $41.1 billion (including stock buybacks and cash dividends)

Data Center and AI Computing: The Core Growth Drivers

NVIDIA founder and CEO Jensen Huang stated in the earnings release: “Computing demand is growing exponentially—the inflection point for AI has arrived.” He also announced the upcoming release of the new Vera Rubin platform, which reduces inference token costs by 10 times compared to the Blackwell platform. Cloud service providers AWS, Google Cloud, Microsoft Azure, and Oracle Cloud Infrastructure will be among the first to deploy.

During Q4, NVIDIA announced several major collaborations: a multi-year cross-generational strategic partnership with Meta to deploy large-scale Blackwell and Rubin GPUs; a $13 billion investment in AI inference platform company Groq; and a deep technical partnership and investment agreement with Anthropic.

Gaming revenue for Q4 was $3.7 billion, up 47% year-over-year, but declined 13% quarter-over-quarter due to seasonal inventory adjustments after the holiday peak. Professional visualization revenue reached $1.3 billion, up 159% year-over-year. Automotive and robotics revenue was $604 million, up 6%.

Q1 FY2027 Outlook: $78 Billion Target Excluding China

NVIDIA provided clear guidance for Q1 FY2027: approximately $78 billion in revenue (plus or minus 2%), with GAAP gross margin around 74.9%, Non-GAAP about 75.0%. GAAP operating expenses are expected to be about $7.7 billion, and Non-GAAP around $7.5 billion.

Notably, NVIDIA explicitly stated that the above outlook excludes revenue from China data center computing business. Given current geopolitical and export control restrictions, this statement has attracted significant market attention. Additionally, starting from Q1 FY2027, NVIDIA will include stock-based compensation expenses in Non-GAAP financial metrics, which will affect direct comparisons with historical data.

Frequently Asked Questions

What is the biggest highlight of NVIDIA’s Q4 FY2026 earnings report?

Q4 revenue reached $68.127 billion, with data center revenue at $62.3 billion, GAAP net income at $42.96 billion—all hitting record highs. For the full year, NVIDIA’s FY2026 total revenue was $215.938 billion, up 65%, with GAAP net income of $120.067 billion, also up 65%.

Why does NVIDIA’s outlook for the next quarter exclude China?

NVIDIA’s Q1 FY2027 outlook explicitly states that the approximately $78 billion revenue target does not include revenue from China’s data center computing business, reflecting ongoing restrictions on U.S. advanced chip exports to China.

How does the Vera Rubin platform impact NVIDIA’s market competitiveness?

Vera Rubin is NVIDIA’s next-generation AI acceleration platform, featuring six new chips. It reduces inference token costs by 10 times compared to the Blackwell platform. AWS, Google Cloud, Microsoft Azure, and Oracle Cloud have confirmed deployment of Vera Rubin instances, further strengthening NVIDIA’s dominance in the AI inference market.