NVIDIA Reports Q4'FY2026 Earnings: Data Center and ProViz Drive Revenue Records

NVIDIA this afternoon reported its earnings for both Q4 of their 2026 fiscal year, and for their complete 2026 fiscal year. And like most NVIDIA earnings announcements over the past few years, it is a doozy. The flagship company for the current AI boom recorded $68 billion in GAAP revenue for Q4'FY26, a 73% year-over-year increase. And the company's full-year results were equally impressive, booking $216b for all of FY2026, a 65% jump from the year before.

Q4'FY2026 Financial Highlights

Metric	Q4'2026	Q3'2026	Q4'2025	Q/Q	Y/Y
Revenue	$68.1B	$57.0B	$39.3B	+20%	+73%
Gross Margin	75.0%	73.4%	73.0%	+1.6pts	+2.0pts
Operating Expenses	$6.8B	$5.8B	$4.7B	+16%	+45%
Operating Income	$44.3B	$36.0B	$24.0B	+23%	+84%
Net Income	$42.9B	$31.9B	$22.1B	+35%	+94%
EPS	$1.76	$1.30	$0.89	+35%	+98%

Thanks to NVIDIA's gross margins recovering to 75% – a level few chipmakers have ever reached – the company booked $43b in net income for Q4'FY26 alone, a 94% year-over-year increase in profitability. That quarter added to an already impressive haul by NVIDIA for the year, leading to NVIDIA closing out FY2026 with $120b in net income – a 65% improvement over the previous year.

Full Year FY2026 Results

Metric	FY2026	FY2025	FY2024	Y/Y
Revenue	$215.9B	$130.4B	$60.9B	+65%
Gross Margin	71.1%	75.0%	72.7%	-3.9pts
Operating Expenses	$23.1B	$16.4B	$11.3B	+41%
Operating Income	$130.4B	$81.5B	$33.0B	+60%
Net Income	$120.1B	$73.0B	$29.8B	+65%
EPS	$4.90	$2.94	$1.19	+67%

It is now NVIDIA's 12th consecutive quarter of revenue growth – three straight years – and NVIDIA is forecasting that will go into a 13th quarter and beyond in FY2027. As well, this quarter has also seen NVIDIA handily shoot past their own projections for Q4. While the company was forecasting $65b +/- $1.3b for the quarter – an amount which would have still represented significant growth for the company – the final total of $68b has exceeded even the top-end of NVIDIA's revenue outlook.

Segment Performance

Data Center Dominates

With $62.3b in revenue for Q4 alone, Data Center revenues have grown by 75% year-over-year. At this point Data Center revenue is now 91.5% of all of NVIDIA's revenue, not just returning Data Center revenue above the 90% mark, but resulting in the highest revenue share that the increasingly lopsided split has ever been.

What's particularly interesting is NVIDIA's networking business growth. While Data Center compute revenue is up by just 58% YoY, Data Center networking revenue is up by a staggering 263% YoY. NVIDIA's networking division has grown by 34% in a single quarter, moving from a sub-10% share to almost a fifth of all DC revenue.

Gaming Segment

For Q4'FY26, NVIDIA reported $3.7b in Gaming revenue, a 47% jump in revenue versus the year-ago quarter. This was driven by the Blackwell architecture, with Q4'FY25 marking the calm before the storm of when the first GeForce RTX 5000 series video cards launched.

However, Gaming is one of just two divisions not to report an all-time revenue record for the quarter. The segment is highly cyclical due to holiday sales, normally seeing a decline going from Q3 to Q4 as retailers finish stocking up for the holidays.

Professional Visualization Explosion

Arguably the biggest surprise from NVIDIA's Q4 earnings results has been their Professional Visualization (ProViz) business segment. After setting an all-time record in Q3 at $760m in revenue, ProViz revenue has grown by 74% in a single quarter.

For Q4, NVIDIA booked $1.32b in ProViz revenue, eclipsing all previous revenue records. As a result, it is not the Data Center segment, but rather ProViz that is NVIDIA's fastest growing division – and that goes both for Q4'FY26 and for the entire year, at 159% and 70% YoY growth respectively.

NVIDIA is citing the "exceptional demand for Blackwell" as the key factor driving the growth of ProViz. With this segment encompassing NVIDIA's RTX PRO video cards – Blackwell-based video cards that have far more VRAM than NVIDIA's consumer cards – the RTX PRO lineup has been in high demand by system builders looking to run local inference for AI models.

Automotive and Robotics

The final NVIDIA business segment to record a revenue record for Q4 was NVIDIA's Automotive and Robotics business, which at $604m for the quarter eked out just enough growth to pass Q3's revenue record.

At this point, A&R may be the most consistent of NVIDIA's businesses. $604m is only 6% revenue growth on a YoY basis – though the full year picture is rosier, with NVIDIA recording 39% more revenue for FY2026 than FY2025.

OEM & Other

Rounding out NVIDIA's reporting segments, we have the OEM & Other category. This catch-all unit has been used to account for things such as sales of GeForce MX GPUs as well as NVIDIA's revenue from Nintendo Switch sales.

For the quarter, NVIDIA booked $161m in revenue, which was up 28% YoY. Similarly, the segment booked $619m for the entire fiscal year, which was up 59% versus FY2025.

Outlook and Future Products

NVIDIA's outlook for the first quarter of their 2027 fiscal year and beyond is quite rosy. The company is calling for $78.0b, +/- $1.56b in revenue for the quarter.

Which, if NVIDIA achieves it, would be yet another quarter of record revenues for the company, beating Q4'FY26 by around 14% and marking 77% revenue growth over the year-ago quarter.

As with the past couple of quarters, NVIDIA's position is that they are selling their products as fast as they can make them. The company continues to be supply-constrained across most of its product segments.

NVIDIA is preparing for the launch of Vera Rubin this year, and that ramp-up is going to start making itself felt in NVIDIA's product offerings and resulting financial performance. The company will host their annual GTC tech conference next month, where they typically outline product roadmaps and timelines.

Key Takeaways

• Data Center now represents 91.5% of NVIDIA's business
• ProViz grew 159% YoY, becoming NVIDIA's fastest-growing segment
• Networking revenue grew 263% YoY, now 17.6% of Data Center revenue
• Gaming revenue up 47% YoY but facing supply constraints
• NVIDIA returned $41.1b to shareholders through buybacks in FY2026
• Cash and cash equivalents grew to $62.5b

NVIDIA continues to defy expectations, growing faster than even their own projections while maintaining industry-leading margins. The company's ability to capitalize on the AI boom while simultaneously growing other segments like ProViz suggests this growth trajectory may have staying power beyond the current AI cycle.