NVIDIA reported revenue of $215.9 billion for fiscal 2026, up 65% from a year earlier. Fiscal 2026 ended on 25 January 2026, so it is not calendar 2025. Fourth-quarter revenue was $68.1 billion, up 73% year over year, and Data Center revenue for the quarter was $62.3 billion.

Margins

GAAP gross margin was 71.1% for fiscal 2026 and 75.0% in the fourth quarter. NVIDIA returned $41.1 billion to shareholders through buybacks and dividends during the year.

The latest quarter

Since the annual report, NVIDIA has published newer results. For the second quarter of fiscal 2027, which ended 26 July 2026, revenue was $96.2 billion, up 106% year over year, with Data Center revenue of $89.0 billion. The company's outlook for the third quarter is $108.0 billion, plus or minus 2%. That figure is company guidance.

What to watch

The question for investors is less whether demand exists than how long customers keep expanding capital spending at this pace. Customer concentration, export rules and the transition to new platforms remain the main risks NVIDIA itself highlights.

AW

For information and educational purposes only. This research is not personalized investment advice or a recommendation to buy or sell a security.