Nvidia FY2026: revenue $215.94 billion, up 65.0%; Q1 guide $78.0 billion
Nvidia closed fiscal 2026 with $215.94 billion of revenue, up 65.0%, and a fourth quarter that accelerated to 73.0% growth. The read: the Data Center business is doing nearly all the work, gross margin held at 75.0% in the quarter after slipping for the full year, and management's $78.0 billion guide for the next quarter assumes zero China Data Center compute revenue.
1 · Expected vs. Actual
Free preview belowGAAP diluted earnings per share for fiscal 2026 were $4.90, up 67.0% from $2.94, while non-GAAP came in at $4.77. The fourth quarter was $1.76 GAAP and $1.62 non-GAAP, up 98.0% and 82.0% year over year respectively. One thing to hold in mind: GAAP net income of $120.07 billion includes $8.92 billion of gains on equity securities, and from the first quarter of fiscal 2027 stock-based compensation moves into the non-GAAP numbers.
Fiscal 2026 revenue was $215.94 billion, 65.0% above the prior year's $130.50 billion, and the fourth quarter alone brought in $68.13 billion, up 20.0% sequentially and 73.0% year over year. Data Center supplied $62.30 billion of that quarter and $193.70 billion for the year, so the growth story is almost entirely one segment. The four reported segments add to $67.90 billion, a hair below the $68.13 billion quarterly total.
Management guided first-quarter fiscal 2027 revenue to $78.0 billion, plus or minus 2%, which is 14.5% above the $68.13 billion just reported. Gross margin is guided to 74.9% GAAP and 75.0% non-GAAP, roughly flat with the quarter, on operating expenses of about $7.70 billion GAAP and $7.50 billion non-GAAP. The outlook assumes no Data Center compute revenue from China.
Log in to read 5 analyses a week for free
Create a free account to read 5 full earnings analyses each week — all five steps: expected vs. actual, guidance tracker, money flow, balance sheet and risks. Members get unlimited access.
Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
Answers are based on the earnings release and the analysis above. Free accounts get 3 questions a week; members get 30 a day.