Nvidia’s fourth-quarter fiscal 2025 earnings, reported Wednesday, exceeded Wall Street expectations, signaling continued strength in the artificial intelligence market. The company reported revenue of $39.33 billion, compared to analyst estimates of $38.05 billion, according to LSEG. Earnings per share came in at 89 cents, adjusted, surpassing the expected 84 cents.
The results reflect a 78% increase in revenue year-over-year and a 114% surge in full-year revenue, reaching $130.5 billion. Nvidia’s Data Center revenue reached a record $35.6 billion for the quarter, up 93% from the same period a year ago. Gross margin for the quarter was 73.0%, a slight decrease from 76.0% in the fourth quarter of fiscal 2024.
Looking ahead, Nvidia anticipates first-quarter revenue of approximately $43 billion, plus or minus 2%, exceeding LSEG estimates of $41.78 billion. This forecast represents a year-over-year growth of about 65%, a deceleration from the 262% annual growth experienced in the same period last year. Chief Financial Officer Colette Kress indicated a “significant ramp” in sales of Blackwell, the company’s next-generation AI chip, is expected in the current quarter.
Net income for the quarter rose to $22.09 billion, or 89 cents per diluted share, compared to $12.29 billion, or 49 cents per share, in the year-ago period. The company will pay a cash dividend of $0.01 per share on April 2, 2025, to shareholders of record as of March 12, 2025.
“Demand for Blackwell is amazing as reasoning AI adds another scaling law — increasing compute for training makes models smarter and increasing compute for long thinking makes the answer smarter,” said Nvidia founder and CEO Jensen Huang. “We’ve successfully ramped up the massive-scale production of Blackwell AI supercomputers, achieving billions of dollars in sales in its first quarter.”
Analysts at Zacks Investment Research noted that Nvidia surpassed the Zacks Consensus Estimate in three of the trailing four quarters, with an average surprise of 2.8%. However, their model does not conclusively predict an earnings beat for the current season, citing an Earnings ESP of 0.00% despite a Zacks Rank #2 (Buy).
The company expects revenues of $65 billion (+/-2%) for the fourth quarter of fiscal 2026, as previously indicated on February 20, 2026.
