Revenue scale
$ billions · available fiscal history
Revenue increased from $26.04B to $39.33B across the available period.
| Q1 FY25 | $26.04B |
|---|---|
| Q2 FY25 | $30.04B |
| Q3 FY25 | $35.08B |
| Q4 FY25 | $39.33B |
NVDA
NVIDIA
NVDA·Q4 FY25·Updated Aug 12, 2026
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Next earnings: Nov 18, 2026
Market cap: $5.2T · Oct 19, 2026
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Quarter history
Quarter Read
↗ Momentum improvingSolid quarter
NVIDIA reported a revenue of $39.33 billion, reflecting a year-over-year growth of 77.9%, while the gross margin decreased by 2.9 percentage points. The Compute segment was the dominant revenue source, contributing 91.5% of total revenue.
Momentum
Revenue changed +77.9% year over year
Margin recovery
Operating margin was 61.1%
Quality and concentration
Net margin rose 1.1pp Q/Q; other income / expense decreased by $702M Q/Q.
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Selected-quarter income statement
Revenue -> Net Profit flowThe full Sankey remains the primary report view; Premium adds history around it rather than replacing it.
Quarter scoreboard
Q4 FY25 · sequential and annual context through this quarter
Revenue
$39.33B
+77.9% Y/Y+12.1% Q/Q
Gross Profit
$28.72B
+71.1% Y/Y+9.8% Q/Q
73.0% margin · -1.5pp Q/Q
Operating Profit
$24.03B
+76.5% Y/Y+9.9% Q/Q
61.1% margin · -1.2pp Q/Q
Net Profit
$22.09B
+79.8% Y/Y+14.4% Q/Q
Other income / expense (current): −$737M
What changed
Revenue
+$4.25B
+12.1% Q/Q
Revenue rose 12.1% quarter over quarter from $35.08B to $39.33B.
Improved.Operating profit
+$2.16B
+9.9% Q/Q
Operating profit rose 9.9% quarter over quarter from $21.87B to $24.03B.
Improved.Operating margin
-1.2pp
-1.2pp Q/Q
Operating margin contracted 1.2 percentage points quarter over quarter from 62.3% to 61.1%.
Weakened.Net margin
+1.1pp
+1.1pp Q/Q
Net margin expanded 1.1 percentage points quarter over quarter from 55.0% to 56.2%.
Unusual movement below operating profit — inspect the profit bridge.
Improved.
Show 4 more changes
Sequential changes · Q/Q
- WeakenedRevenue growth decelerated 4.7 percentage points quarter over quarter. Direction: Weakened.
- ImprovedProfit conversion rose 3.6 percentage points quarter over quarter from 88.3% to 91.9%.Unusual movement below operating profit — inspect the profit bridge. Direction: Improved.
- WeakenedGross margin contracted 1.5 percentage points quarter over quarter from 74.6% to 73.0%. Direction: Weakened.
- StableOperating-expense ratio was broadly stable, declining 0.3 percentage points quarter over quarter to 11.9%. Direction: Stable.
4-quarter fundamental trends
Actual values from the available reports. Missing or non-comparable observations remain explicit.
RevenueGross marginOperating marginNet margin
Margin evolution
Percent of revenue · net margin includes non-operating items
Operating margin ranged from 61.1% to 64.9% across the displayed period.
| Q1 FY25 | 78.37941628264208% | 64.93855606758832% | 57.14285714285714% |
|---|---|---|---|
| Q2 FY25 | 75.13315579227697% | 62.050599201065246% | 55.25965379494008% |
| Q3 FY25 | 74.57240592930444% | 62.34321550741163% | 55.04561003420753% |
| Q4 FY25 | 73.02313755403% | 61.098398169336384% | 56.16577676074244% |
Data Center share of company revenue
Comparable top-level observations · taxonomy breaks remain explicit gaps
Data Center share changed from 86.6% to 90.5% across comparable periods.
Company memory
A durable view of how the earnings thesis evolved across 4 available reports.
Through Q4 FY25 · later-quarter evidence excluded.
Momentum improving · Margins contracting
2 reports across Q1 FY25–Q2 FY25. 10 evidence items were captured. Stored verdicts: Very strong quarter.
Momentum improving · Margins stable
2 reports across Q3 FY25–Q4 FY25. 9 evidence items were captured. Stored verdicts: Very strong quarter; Solid quarter.
Very strong quarterQ1 FY25
Very strong quarterQ2 FY25
Very strong quarterQ3 FY25
Solid quarterQ4 FY25
Company Memory Timeline
A durable quarter-by-quarter record of the company's fundamental signals and prior analysis. Entries link to their source reports and evidence.
View full 4-quarter timelineShow timeline preview
Positive evidence: Operating leverage is working in the company's favor · Profit conversion expanded 3.6 percentage points · Revenue grew 12.1% quarter over quarter
Downside evidence: Gross margin contracted 1.5 percentage points · Operating margin contracted 1.2 percentage points
Watch next: Watch whether gross margin improves from its latest reported level next quarter · Watch whether operating margin improves from its latest reported level next quarter
Source: SEC filing (Q4 FY25)
Metric evidence
Validated report metrics supporting this snapshot.
- Q4 FY25 · Operating leverage
- Q4 FY25 · Profit conversion
- Q4 FY25 · Revenue growth momentum
- Q4 FY25 · Net margin movement
Positive evidence: Operating leverage is working in the company's favor · Revenue grew 16.8% quarter over quarter
No material downside signals identified.
No new watch conditions triggered.
Source: SEC filing (Q3 FY25)
Metric evidence
Validated report metrics supporting this snapshot.
- Q3 FY25 · Operating leverage
- Q3 FY25 · Revenue growth momentum
Positive evidence: Operating leverage is working in the company's favor · Revenue grew 15.4% quarter over quarter · Profit conversion expanded 1.1 percentage points
Downside evidence: Gross margin contracted 3.2 percentage points · Operating margin contracted 2.9 percentage points · Net margin contracted 1.9 percentage points
Watch next: Watch whether gross margin improves from its latest reported level next quarter · Watch whether operating margin improves from its latest reported level next quarter · Watch whether net profit improves from its latest reported level next quarter
Source: SEC filing (Q2 FY25)
Metric evidence
Validated report metrics supporting this snapshot.
- Q2 FY25 · Operating leverage
- Q2 FY25 · Revenue growth momentum
- Q2 FY25 · Profit conversion
- Q2 FY25 · Net margin movement
Sources and methodology
4 published, validated reports used · Q1 FY25–Q4 FY25 · selected report analysed 2026-08-12
Point-in-time scope: through Q4 FY25; later-quarter data is excluded. Q/Q values are derived from adjacent report metrics; any comparability caveat is shown with the relevant trend above.