NVDA — Q4 2025 Earnings Call

Technology

NVIDIA Corporation • Reported: 2025-02-26

EPS Actual

$0.89

Est. $0.84 ▲ Beat

Revenue Actual

$39.3B

Est. $38.1B ▲ Beat

Overall Result

Double Beat

EPS + Revenue vs. estimates

Period

Q4 2025

FY2025 • Reported 2025-02-26

Executive Summary

NVIDIA reported record Q4 FY2025 revenue of $39.3 billion, up 78% year-over-year, beating estimates on surging demand for AI chips. Data Center revenue was $35.6 billion, up 93% YoY. The Blackwell GPU architecture delivered $11 billion in its first quarter of availability. NVIDIA guided for Q1 FY2026 revenue of approximately $43 billion, well above consensus.

Key Highlights

Revenue positive

Record $39.3B quarter

Revenue of $39.3B up 78% YoY and 12% QoQ, beating consensus by $1.2B on AI chip demand.

Data Center positive

Data Center up 93%

Data Center revenue reached $35.6B, with cloud providers and enterprises driving unprecedented demand.

Blackwell positive

Blackwell ramp exceeds expectations

Blackwell GPU architecture delivered $11B in revenue in its first quarter, the fastest product ramp in company history.

Guidance positive

Q1 guidance above consensus

Guided Q1 FY2026 revenue of ~$43B, above the $41.8B consensus, signaling continued momentum.

Margins neutral

Gross margin dip expected

Gross margin expected to temporarily dip to 70.6% as Blackwell ramps, before recovering to mid-70s.

Supply neutral

Supply constraints persist

Demand continues to exceed supply, with Blackwell allocation fully booked through 2025.

Direct Quotes

Jensen Huang

CEO • AI Vision

"The age of AI is in full steam. Blackwell is the fastest product ramp in our company's history. AI is transforming every industry, and we're at the center of this revolution."

Jensen Huang

CEO • Blackwell

"Blackwell delivered $11 billion in its first quarter. Demand is staggering. Every major cloud provider, enterprise, and sovereign nation is racing to build AI infrastructure."

Colette Kress

CFO • Financial Results

"Revenue was a record $39.3 billion, up 78% from a year ago. Data Center revenue was $35.6 billion, up 93%, driven by accelerating demand for AI training and inference."

All NVDA Quarters

Q1 2026 →