NVDA CY4Q25: Results and Outlook Exceeding Elevated Expectations

NVIDIA delivered another quarter of exceptional performance, with both CY4Q25 earnings results and CY1Q26 guidance once again exceeding market expectations. The company reported CY4Q25 revenue of $68.1bn, surpassing the sell-side and buy-side consensus of $66bn and $68bn, respectively. Furthermore, management guided CY1Q26 revenue to $78bn±2%, ahead of the sell-side/buy-side consensus of $72/75bn. This robust momentum supports management’s outlook for continued top-line growth throughout 2026, with total annual revenue projected to surpass the previously estimated $500bn milestone driven by the Blackwell and Rubin product cycles.

The company’s profitability remains resilient, with CY4Q25 and CY1Q26 gross margins coming in line with consensus at 75%. Management expects gross margins to hold steady in the mid-70s for the full year, a testament to the immense pricing power inherent in the CUDA ecosystem and NVIDIA’s integrated system-level designs.

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