NVIDIA beat Wall Street expectations Wednesday with fourth-quarter revenue of $68.1 billion, up 73% year-over-year - its largest quarterly haul to date.
Non-GAAP earnings per share came in at $1.62, topping the $1.53 analyst consensus. Shares rose roughly 3% in extended trading.
The results arrived as the company's Blackwell GPU architecture continued its rapid deployment across major cloud providers, pushing data center revenue to $62.3 billion - over 91% of total quarterly sales.
For full-year fiscal 2026, NVIDIA recorded $215.9 billion in revenue, up 65% from the prior year.
What Happened
Data center compute revenue grew 58% year-over-year to $51.3 billion. Networking revenue surged 263% to $11 billion, driven by the ramp of NVLink fabric in GB200 and GB300 systems.
Hyperscalers - Alphabet, Amazon, Meta, and Microsoft - collectively accounted for slightly over 50% of data center revenue and plan roughly $650 billion in AI capital expenditures in 2026.
Professional Visualization revenue jumped 159% year-over-year to $1.3 billion, also attributed to Blackwell demand. Gaming came in at $3.7 billion, up 47% from a year ago but down 13% sequentially as post-holiday channel inventory normalized.
NVIDIA expects supply constraints to weigh on gaming in the first quarter of fiscal 2027.
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Why It Matters
NVIDIA's Q1 fiscal 2027 guidance of $78 billion - well above the $72.6 billion analysts had projected - set a higher baseline for AI infrastructure spending.
The company explicitly excluded any data center compute revenue from China from that outlook, a notable caveat given ongoing export restrictions.
Free cash flow for the quarter reached $34.9 billion. NVIDIA returned $41.1 billion to shareholders in fiscal 2026 through buybacks and dividends. Cash and equivalents stood at $62.6 billion at quarter-end.
The company also noted it will begin including stock-based compensation in non-GAAP measures starting Q1 fiscal 2027 - a change that will affect comparability with prior periods.
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