Revenue scale
$ billions · available fiscal history
Revenue increased from $26.04B to $57.01B across the available period.
| Q1 FY25 | $26.04B |
|---|---|
| Q2 FY25 | $30.04B |
| Q3 FY25 | $35.08B |
| Q4 FY25 | $39.33B |
| Q1 FY26 | $44.06B |
| Q2 FY26 | $46.74B |
| Q3 FY26 | $57.01B |
NVDA
NVIDIA
NVDA·Q3 FY26·Updated Aug 6, 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 improvingGrowth has reaccelerated.
Revenue increased by 62.5% year over year, while gross margin decreased by 1.1 percentage points, with Compute contributing 84.0% to the revenue mix. The growth in net income and operating income reflects operational performance.
Momentum
Revenue changed +62.5% year over year
Margin recovery
Operating margin was 63.2%
Quality and concentration
Net margin fell 0.6pp Q/Q; other income / expense increased by $310M 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
Q3 FY26 · sequential and annual context through this quarter
Revenue
$57.01B
+62.5% Y/Y+22.0% Q/Q
Gross Profit
$41.85B
+60.0% Y/Y+23.6% Q/Q
73.4% margin · +1.0pp Q/Q
Operating Profit
$36.01B
+64.7% Y/Y+26.6% Q/Q
63.2% margin · +2.3pp Q/Q
Net Profit
$31.91B
+65.3% Y/Y+20.8% Q/Q
Other income / expense (current): +$1.93B
What changed
Revenue
+$10.27B
+22.0% Q/Q
Revenue rose 22.0% quarter over quarter from $46.74B to $57.01B.
Improved.Operating profit
+$7.57B
+26.6% Q/Q
Operating profit rose 26.6% quarter over quarter from $28.44B to $36.01B.
Improved.Operating margin
+2.3pp
+2.3pp Q/Q
Operating margin expanded 2.3 percentage points quarter over quarter from 60.8% to 63.2%.
Improved.Operating-expense ratio
-1.3pp
-1.3pp Q/Q
Operating-expense ratio fell 1.3 percentage points quarter over quarter from 11.6% to 10.2%.
Improved.
Show 12 more changes
Sequential changes · Q/Q
- ImprovedRevenue growth accelerated 15.9 percentage points quarter over quarter. Direction: Improved.
- WeakenedProfit conversion fell 4.3 percentage points quarter over quarter from 92.9% to 88.6%.Unusual movement below operating profit — inspect the profit bridge. Direction: Weakened.
- StableGross margin was broadly stable, increasing 0.99 percentage points quarter over quarter to 73.4%. Direction: Stable.
- StableNet margin was broadly stable, declining 0.55 percentage points quarter over quarter to 56.0%. Direction: Stable.
Annual changes · Y/Y
- ImprovedOperating profit rose 64.7% year over year from $21.87B to $36.01B. Direction: Improved.
- ImprovedRevenue rose 62.5% year over year from $35.08B to $57.01B. Direction: Improved.
- WeakenedRevenue growth decelerated 31.1 percentage points year over year. Direction: Weakened.
- ImprovedOperating-expense ratio fell 2.0 percentage points year over year from 12.2% to 10.2%. Direction: Improved.
- WeakenedGross margin contracted 1.2 percentage points year over year from 74.6% to 73.4%. Direction: Weakened.
- StableNet margin was broadly stable, increasing 0.93 percentage points year over year to 56.0%. Direction: Stable.
- StableOperating margin was broadly stable, increasing 0.82 percentage points year over year to 63.2%. Direction: Stable.
- StableProfit conversion was broadly stable, increasing 0.32 percentage points year over year to 88.6%. Direction: Stable.
7-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 recovered from 49.1% to 63.2% within 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% |
| Q1 FY26 | 60.53109396277803% | 49.11484339536995% | 42.623694961416255% |
| Q2 FY26 | 72.42190842961061% | 60.84724005134788% | 56.52545999144202% |
| Q3 FY26 | 73.4081740045606% | 63.16435713032801% | 55.97263637958253% |
Data Center share of company revenue
Comparable top-level observations · taxonomy breaks remain explicit gaps
Data Center share changed from 86.6% to 89.8% across comparable periods.
Company memory
A durable view of how the earnings thesis evolved across 7 available reports.
Through Q3 FY26 · later-quarter evidence excluded.
Momentum improving · Margins contracting
3 reports across Q1 FY25–Q3 FY25. 12 evidence items were captured. Stored verdicts: Very strong quarter.
Momentum improving · Margins contracting
3 reports across Q4 FY25–Q2 FY26. 20 evidence items were captured. Stored verdicts: Solid quarter.
Momentum improving · Margins expanding
1 report across Q3 FY26. 5 evidence items were captured. Stored verdicts: Solid quarter.
Very strong quarterQ1 FY25
Very strong quarterQ2 FY25
Very strong quarterQ3 FY25
Solid quarterQ4 FY25
Solid quarterQ1 FY26
Solid quarterQ2 FY26
Solid quarterQ3 FY26
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 7-quarter timelineShow timeline preview
Positive evidence: Operating leverage is working in the company's favor · Operating margin expanded 2.3 percentage points · Revenue grew 22.0% quarter over quarter
Downside evidence: Profit conversion contracted 4.3 percentage points
Watch next: Watch whether net profit improves from its latest reported level next quarter
Source: SEC filing (Q3 FY26)
Metric evidence
Validated report metrics supporting this snapshot.
- Q3 FY26 · Operating leverage
- Q3 FY26 · Net margin movement
- Q3 FY26 · Revenue growth momentum
- Q3 FY26 · Profit conversion
Positive evidence: Gross margin expanded 11.9 percentage points · Net margin expanded 13.9 percentage points · Operating margin expanded 11.7 percentage points
Downside evidence: Operating expenses are outpacing revenue
Watch next: Watch whether the operating-expense ratio improves from its latest reported level next quarter
Source: SEC filing (Q2 FY26)
Metric evidence
Validated report metrics supporting this snapshot.
- Q2 FY26 · Net margin movement
- Q2 FY26 · Operating leverage
Positive evidence: Operating leverage is working in the company's favor · Revenue grew 12.0% quarter over quarter
Downside evidence: Gross margin contracted 12.5 percentage points · Net margin contracted 13.5 percentage points · Operating margin contracted 12.0 percentage points
Watch next: Watch whether gross margin improves from its latest reported level next quarter · Watch whether net profit improves from its latest reported level next quarter · Watch whether operating margin improves from its latest reported level next quarter
Source: SEC filing (Q1 FY26)
Metric evidence
Validated report metrics supporting this snapshot.
- Q1 FY26 · Operating leverage
- Q1 FY26 · Revenue growth momentum
- Q1 FY26 · Net margin movement
Sources and methodology
7 published, validated reports used · Q1 FY25–Q3 FY26 · selected report analysed 2026-08-06
Point-in-time scope: through Q3 FY26; later-quarter data is excluded. Q/Q values are derived from adjacent report metrics; any comparability caveat is shown with the relevant trend above.