NVDA Q4 2026 Earnings

Call Details

• Call Title: Nvidia Q4 2026 Earnings Call
• Date: February 25, 2026 at 10:00 PM UTC
• Management Team:
  • Jensen Huang (President and Chief Executive Officer)
  • Colette Kress (Executive Vice President and Chief Financial Officer)
  • Toshiya Hari (Head of Investor Relations)

Call Summary

Financial Performance

• Total revenue was $68B, up 73% year over year and representing a sequential acceleration from Q3.
• Q4 data center revenue was $62B, up 75% year over year and up 22% sequentially, driven primarily by Blackwell and Blackwell Ultra ramp.
• Full-year data center revenue was $194B, up 68% year over year, representing a ~13X scale since fiscal 2023.
• Networking revenue was $11B in Q4, representing more than 3.5x year-over-year growth, and full-year networking exceeded $31B, up more than 10x versus fiscal 2021.
• Gaming revenue was $3.7B, up 47% year over year, and professional visualization revenue was $1.3B, up 159% year over year and up 74% sequentially.
• Automotive revenue was $604M, up 6% year over year, and physical AI contributed north of $6B of NVIDIA revenue in fiscal 2026.
• GAAP gross margin was 75.0% and non-GAAP gross margin was 75.2% in Q4, while non-GAAP effective tax rate was 15.4% due to a one-time tax benefit.

Guidance

• Q1 revenue is expected to be $78B plus or minus 2%, with most growth driven by data center.
• Forecast assumes no data center compute revenue from China, consistent with the prior quarter's assumption.
• GAAP gross margin guidance for Q1 is 74.9% and non-GAAP gross margin guidance is 75.0%, each plus or minus 50 basis points.
• GAAP and non-GAAP operating expenses for Q1 are expected to be approximately $7.7B and $7.5B, respectively, and include $1.9B of stock-based compensation now included in non-GAAP results.
• For fiscal 2027, non-GAAP operating expenses are expected to grow in the low 40% year-over-year range.
• Full-year fiscal 2027 GAAP and non-GAAP tax rates are expected to be between 7% and 19%, excluding discrete items and material tax environment changes.