Nvidia (NVDA) earnings report Q4 2026

Nvidia reported better-than-expected fiscal fourth-quarter results on Wednesday, driven by 75% revenue growth in its core data center business. The stock rose about 2% in extended trading.

Here’s how the company did, compared with estimates from analysts polled by LSEG:

• Earnings per share: $1.62 adjusted vs. $1.53 estimated
• Revenue: $68.13 billion vs. $66.21 billion estimated

Nvidia’s total revenue for the quarter climbed 73% from $39.3 billion a year earlier. The company now gets over 91% of sales from its data center unit, which houses its market leading artificial intelligence chips.

Data center revenue came in at $62.3 billion for the quarter, ahead of expectations for $60.69 billion, according to StreetAccount.

Net income almost doubled to $43 billion, or $1.76 a share, from $22.1 billion, or 89 cents per share, in the same quarter a year ago, the company said in a press release.

Guidance was also better than expected. Nvidia said revenue for the fiscal first quarter will be $78 billion, plus or minus 2%. Analysts were expecting $72.6 billion. Nvidia said it’s not assuming data center revenue from China in its forecast.

Nvidia’s stock is outperforming all of its megacap peers so far this year, as the company continues to be the leading beneficiary of the AI boom. As of Wednesday’s close, the shares are up 5% in 2026, while the Nasdaq is down 0.4%. The only other company in the trillion-dollar club to show gains this year is Apple, which is up less than 1%.

Wall Street got a good preview of what to expect from Nvidia when the four major hyperscalers — Alphabet, Amazon, Meta and Microsoft — reported quarterly results a few weeks ago. Based on their forecasts for capital expenditures along with analyst estimates, combined capex for the year could approach $700 billion as the tech giants build out their AI infrastructure.

In its CFO commentary, Nvidia said hyperscalers “remained our largest customer category,” accounting for just over 50% of data center revenue.

Within the data center business, Nvidia reported $10.98 billion in sales for the company’s networking parts, which are used to connect hundreds of graphics processing units. Those sales were up 263% year over year, reflecting strong adoption of the company’s NVLink networking technology, as well as its Spectrum-X Ethernet switches with new deals from giants like Meta.

Nvidia’s gaming unit, which used to be its biggest, recorded revenue growth of 47% from a year ago to $3.7 billion, but fell 13% from the previous quarter. Analysts have speculated that Nvidia may skip the launch of a new gaming GPU this year, as memory constraints force chipmakers to prioritize AI processors. For Nvidia, that means AI accelerators largely sold in rack-scale systems like the 72-GPU Grace Blackwell.

Memory has been an area of potential concern for investors because of a global shortage….