NVIDIA Earnings: Better Than Expected

NVIDIA has seen a remarkable surge in the stock market in recent years, fueled by massive investments in AI infrastructure—particularly in data centers. Often likened to a shovel manufacturer supplying tools to gold rush prospectors, NVIDIA has emerged as one of the biggest winners of the AI boom. At the same time, its performance serves as both an indicator and a benchmark for the technology’s continued evolution.

Analysts' expectations of the quarterly figures were correspondingly high. Nevertheless, NVIDIA was once again able to significantly exceed forecasts and once again achieved record figures in the fourth quarter of fiscal year 2025 (Q4 FY2025). These strong results impressively underline the leading role that NVIDIA now plays in the market for AI and data center solutions.

Key financial figures Q4 FY2025

• Revenue: USD 39.3 billion (+12% on the previous quarter, +78% on the previous year)

• Earnings per share (EPS): $0.89 (+82% year-on-year) - was 5.95% above the forecast ($0.84)

• Data Center revenue: $35.6 billion (+93% year-on-year) - 90.6% share of total revenue

• Gross margin: 73 % (GAAP) / 73.5 % (non-GAAP)

For Q1 FY2026, NVIDIA forecasts revenue of $43 billion (±2%), which is above analyst estimates of $41.78 billion. Drivers remain:

• Blackwell architecture: First shipments with 4x higher computing power than predecessor

• Partnerships: Expansion with cloud providers (GB200 systems), cooperation with Verizon (Edge AI) and Toyota (NVIDIA DRIVE)

• AI infrastructure: Strong increase in demand due to “Reasoning AI” and physical AI applications