Nvidia announces financial results for Q1 of fiscal 2026
SAN FRANCISCO, May 28 (Xinhua) -- Nvidia on Wednesday reported revenue of 44.1 billion U.S. dollars for the first quarter of fiscal 2026 ended April 27, 2025, up 12 percent from the previous quarter and up 69 percent from a year ago.
Its quarterly Generally Accepted Accounting Principles (GAAP) net income was 18.8 billion dollars, down 15 percent from the previous quarter and up 26 percent from a year ago.
The quarterly revenue of Nvidia's Data Center was 39.1 billion dollars, up 10 percent from the previous quarter and up 73 percent from a year ago. Its first-quarter Gaming revenue was a record 3.8 billion dollars, up 48 percent from the previous quarter and up 42 percent from a year ago. The first-quarter revenue of Professional Visualization was 509 million dollars, flat with the previous quarter and up 19 percent from a year ago. The Automotive revenue for the quarter was 567 million dollars, down 1 percent from the previous quarter and up 72 percent from a year ago.
On April 9, 2025, Nvidia was informed by the U.S. government that a license is required for exports of its H20 products into the China market. As a result of these new requirements, Nvidia incurred a 4.5 billion dollar charge in the first quarter of fiscal 2026 associated with H20 excess inventory and purchase obligations as the demand for H20 diminished, the company said.
Sales of H20 products were 4.6 billion dollars for the first quarter of fiscal 2026 prior to the new export licensing requirements. Nvidia was unable to ship an additional 2.5 billion dollars of H20 revenue in the first quarter, according to the company.
For the quarter, GAAP and non-GAAP gross margins were 60.5 percent and 61.0 percent, respectively. Excluding the 4.5 billion dollar charge, first quarter non-GAAP gross margin would have been 71.3 percent.
For the quarter, GAAP and non-GAAP earnings per diluted share were 0.76 dollars and 0.81 dollars, respectively. Excluding the 4.5 billion dollar charge and related tax impact, first quarter non-GAAP diluted earnings per share would have been 0.96 dollars, Nvidia said in its financial report.
"Our breakthrough Blackwell NVL72 AI supercomputer is now in full-scale production across system makers and cloud service providers," said Jensen Huang, founder and CEO of Nvidia.
"Global demand for NVIDIA's AI infrastructure is incredibly strong. AI inference token generation has surged tenfold in just one year, and as AI agents become mainstream, the demand for AI computing will accelerate. Countries around the world are recognizing AI as essential infrastructure - just like electricity and the internet - and Nvidia stands at the center of this profound transformation," he noted.
"We specialize in markets where our computing platforms can provide tremendous acceleration for applications. These platforms incorporate processors, interconnects, software, algorithms, systems. Our platforms address four large markets: Data Center, Gaming, Professional Visualization, and Automotive," said Colette Kress, Nvidia's executive vice president and chief financial officer.
The company confirmed that it is building factories in the United States and working with its partners to produce Nvidia AI supercomputers in the country.
Nvidia's outlook for revenue in the second quarter of fiscal 2026 is 45.0 billion dollars, plus or minus 2 percent. This outlook reflects a loss in H20 revenue of approximately 8.0 billion dollars due to the recent export control limitations.
GAAP and non-GAAP gross margins in the second quarter are expected to be 71.8 percent and 72.0 percent, respectively, plus or minus 50 basis points.
Nvidia will pay its next quarterly cash dividend of 0.01 dollars per share on July 3, 2025, to all shareholders of record on June 11, 2025.
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