{"id":294113,"date":"2025-11-19T21:51:08","date_gmt":"2025-11-19T21:51:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/294113\/"},"modified":"2025-11-19T21:51:08","modified_gmt":"2025-11-19T21:51:08","slug":"nvidia-announces-financial-results-for-third-quarter-fiscal","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/294113\/","title":{"rendered":"NVIDIA Announces Financial Results for Third Quarter Fiscal"},"content":{"rendered":"

Record revenue of $57.0 billion, up 22% from Q2 and up 62% from a year agoRecord Data Center revenue of $51.2 billion, up 25% from Q2 and up 66% from a year ago <\/p>\n

SANTA CLARA, Calif., Nov. 19, 2025 (GLOBE NEWSWIRE) — NVIDIA (NASDAQ: NVDA) today reported record revenue for the third quarter ended October\u00a026, 2025, of $57.0 billion, up 22% from the previous quarter and up 62% from a year ago.<\/p>\n

For the quarter, GAAP and non-GAAP gross margins were 73.4% and 73.6%, respectively.<\/p>\n

For the quarter, GAAP and non-GAAP earnings per diluted share were both $1.30.<\/p>\n

\u201cBlackwell sales are off the charts, and cloud GPUs are sold out,\u201d said Jensen Huang, founder and CEO of NVIDIA. \u201cCompute demand keeps accelerating and compounding across training and inference \u2014 each growing exponentially. We\u2019ve entered the virtuous cycle of AI. The AI ecosystem is scaling fast \u2014 with more new foundation model makers, more AI startups, across more industries, and in more countries. AI is going everywhere, doing everything, all at once.\u201d<\/p>\n

During the first nine months of fiscal 2026, NVIDIA returned $37.0 billion to shareholders in the form of shares repurchased and cash dividends. As of the end of the third quarter, the company had $62.2 billion remaining under its share repurchase authorization.<\/p>\n

NVIDIA will pay its next quarterly cash dividend of $0.01 per share on December 26, 2025, to all shareholders of record on December 4, 2025.<\/p>\n

Q3 Fiscal 2026 Summary<\/p>\n

GAAP($ in millions, except earnings per share)Q3 FY26Q2 FY26Q3 FY25Q\/QY\/YRevenue$57,006$46,743$35,08222%62%Gross margin73.4%72.4%74.6%1.0 pts(1.2) ptsOperating expenses$5,839$5,413$4,2878%36%Operating income$36,010$28,440$21,86927%65%Net income$31,910$26,422$19,30921%65%Diluted earnings per share$1.30$1.08$0.7820%67% Non-GAAP($ in millions, except earnings per share)Q3 FY26Q2 FY26Q3 FY25Q\/QY\/YRevenue$57,006$46,743$35,08222%62%Gross margin73.6%72.7%75.0%0.9 pts(1.4) ptsOperating expenses$4,215$3,795$3,04611%38%Operating income$37,752$30,165$23,27625%62%Net income$31,767$25,783$20,01023%59%Diluted earnings per share$1.30$1.05$0.8124%60% <\/p>\n

Outlook
NVIDIA\u2019s outlook for the fourth quarter of fiscal 2026 is as follows:<\/p>\n

Revenue is expected to be $65.0 billion, plus or minus 2%.
GAAP and non-GAAP gross margins are expected to be 74.8% and 75.0%, respectively, plus or minus 50 basis points.
GAAP and non-GAAP operating expenses are expected to be approximately $6.7 billion and $5.0 billion, respectively.
GAAP and non-GAAP other income and expense are expected to be an income of approximately $500 million, excluding gains and losses from non-marketable and publicly-held equity securities.
GAAP and non-GAAP tax rates are expected to be 17.0%, plus or minus 1%, excluding any discrete items. <\/p>\n

Highlights\u00a0<\/p>\n

Data Center <\/p>\n

Third-quarter revenue was a record $51.2 billion, up 25% from the previous quarter and up 66% from a year ago.
Revealed that NVIDIA Blackwell<\/a> achieved the highest performance and best overall efficiency in the SemiAnalysis InferenceMAX benchmarks, while delivering 10x throughput per megawatt compared with the previous generation.
Announced a strategic partnership with OpenAI<\/a> to deploy at least 10 gigawatts of NVIDIA systems for OpenAI\u2019s next-generation AI infrastructure.
Partnered with industry leaders, including Google Cloud, Microsoft, Oracle and xAI, to build America\u2019s AI infrastructure<\/a> with hundreds of thousands of NVIDIA GPUs.
Announced that, for the first time, Anthropic<\/a> will run and scale on NVIDIA infrastructure, initially adopting 1 gigawatt of compute capacity with NVIDIA Grace Blackwell and Vera Rubin systems.
Announced a collaboration with Intel<\/a> to jointly develop multiple generations of custom data center and PC products with NVIDIA NVLink.
Revealed plans to accelerate seven new supercomputers, including with Oracle<\/a> to build the U.S. Department of Energy\u2019s largest AI supercomputer, Solstice, featuring 100,000 NVIDIA Blackwell GPUs, plus another system, Equinox, featuring 10,000 NVIDIA Blackwell GPUs.
Celebrated the first NVIDIA Blackwell wafer<\/a> produced on U.S. soil at TSMC\u2019s Arizona facility, representing revitalization of U.S. manufacturing as Blackwell reached volume production.
Unveiled NVIDIA Rubin CPX<\/a>, a new class of GPU purpose-built for massive-context processing.
Introduced NVIDIA NVQLink\u2122<\/a>, an open system architecture for tightly coupling the extreme performance of NVIDIA GPU computing with quantum processors, which will be adopted by more than a dozen supercomputing centers globally<\/a>.
Revealed that Arm is extending its Neoverse platform with NVIDIA NVLink Fusion\u2122<\/a> to accelerate AI data center adoption.
Revealed that Meta, Microsoft<\/a> and Oracle will boost their AI data center networks with NVIDIA Spectrum-X\u2122 Ethernet<\/a> networking switches.
Introduced NVIDIA Omniverse\u2122 DSX<\/a>, a comprehensive, open blueprint for designing and operating gigawatt-scale AI factories.
Launched NVIDIA BlueField-4<\/a>, the processor for the operating system of AI factories, with industry leaders including CoreWeave, Dell Technologies, Oracle Cloud Infrastructure, Palo Alto Networks, Red Hat and VAST Data building next-generation BlueField\u00ae-accelerated data center platforms.
Partnered with Nokia<\/a> to add NVIDIA-powered AI-RAN products to Nokia\u2019s industry-leading RAN portfolio, enabling communication service providers to launch AI-native 5G-Advanced and 6G networks on NVIDIA platforms.
Unveiled the all-American AI-RAN<\/a> stack to accelerate the path to 6G with industry-leading partners Booz Allen, Cisco, MITRE, ODC and T-Mobile.
Teamed with Palantir Technologies<\/a> to build a first-of-its-kind integrated technology stack for operational AI.
Set records on the new MLPerf Inference v5.1 benchmark with NVIDIA Blackwell Ultra<\/a>, and won every MLPerf Training v5.1 benchmark<\/a>.
Revealed that NVIDIA is working with partners including CoreWeave, Microsoft and Nscale to build the U.K.\u2019s next generation of AI infrastructure<\/a>, and announced an investment of \u00a32 billion in the U.K. market<\/a>.
Launched the world\u2019s first Industrial AI Cloud with Deutsche Telekom to power the AI era of Germany\u2019s industrial transformation<\/a>.
Announced that NVIDIA is working with the South Korea<\/a> government and industrial leaders, including Hyundai Motor Group<\/a>, Samsung Electronics,<\/a> SK Group<\/a> and NAVER Cloud, to expand the nation\u2019s AI infrastructure with over a quarter-million NVIDIA GPUs. <\/p>\n

Gaming and AI PC<\/p>\n

Professional Visualization<\/p>\n

Third-quarter revenue was $760 million, up 26% from the previous quarter and up 56% from a year ago.
Began shipping NVIDIA DGX Spark\u2122<\/a>,<\/a> the world\u2019s smallest AI supercomputer, delivering NVIDIA\u2019s AI stack in a compact form factor. <\/p>\n

Automotive and Robotics<\/p>\n

Third-quarter Automotive revenue was $592 million, up 1% from the previous quarter and up 32% from a year ago.
Introduced the NVIDIA DRIVE AGX Hyperion\u2122<\/a> 10 autonomous vehicle development platform, a reference compute and sensor architecture designed to enable automakers and developers to build safe, scalable level 4 fleets.
Partnered with Uber<\/a> to scale the world\u2019s largest level 4-ready mobility network starting in 2027, targeting 100,000 vehicles.
Revealed that NVIDIA and U.S. manufacturing and robotics leaders, including Agility Robotics, Amazon Robotics, Belden, Caterpillar, Foxconn, Figure, Lucid Motors, Skild AI, Toyota, TSMC and Wistron, are driving America\u2019s reindustrialization<\/a> with physical AI.
Announced that leading industrial solutions providers, including PTC and Siemens, introduced new services that bring
NVIDIA Omniverse\u2122-powered<\/a> digital twin workflows to their extensive installed base of customers.
Unveiled NVIDIA IGX Thor\u2122<\/a>, a powerful, industrial-grade platform built to bring real-time\u00a0physical AI<\/a>\u00a0directly to the edge. <\/p>\n

CFO Commentary
Commentary on the quarter by Colette Kress, NVIDIA\u2019s executive vice president and chief financial officer, is available at https:\/\/investor.nvidia.com<\/a>.<\/p>\n

Conference Call and Webcast Information
NVIDIA will conduct a conference call with analysts and investors to discuss its third quarter fiscal 2026 financial results and current financial prospects today at 2 p.m. Pacific time (5 p.m. Eastern time). A live webcast (listen-only mode) of the conference call will be accessible at NVIDIA\u2019s investor relations website, https:\/\/investor.nvidia.com<\/a>. The webcast will be recorded and available for replay until NVIDIA\u2019s conference call to discuss its financial results for its fourth quarter and fiscal 2026.<\/p>\n

Non-GAAP Measures
To supplement NVIDIA\u2019s condensed consolidated financial statements presented in accordance with GAAP, the company uses non-GAAP measures of certain components of financial performance. These non-GAAP measures include non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP other income (expense), net, non-GAAP net income, non-GAAP net income, or earnings, per diluted share, and free cash flow. For NVIDIA\u2019s investors to be better able to compare its current results with those of previous periods, the company has shown a reconciliation of GAAP to non-GAAP financial measures. These reconciliations adjust the related GAAP financial measures to exclude stock-based compensation expense, acquisition-related and other costs, other, gains\/losses from non-marketable and publicly-held equity securities, net, interest expense related to amortization of debt discount, and the associated tax impact of these items where applicable. Free cash flow is calculated as GAAP net cash provided by operating activities less both purchases related to property and equipment and intangible assets and principal payments on property and equipment and intangible assets. NVIDIA believes the presentation of its non-GAAP financial measures enhances the user\u2019s overall understanding of the company\u2019s historical financial performance. The presentation of the company\u2019s non-GAAP financial measures is not meant to be considered in isolation or as a substitute for the company\u2019s financial results prepared in accordance with GAAP, and the company\u2019s non-GAAP measures may be different from non-GAAP measures used by other companies.<\/p>\n

NVIDIA CORPORATION\u00a0CONDENSED CONSOLIDATED STATEMENTS OF INCOME\u00a0(In millions, except per share data)\u00a0(Unaudited)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Three Months Ended\u00a0Nine Months Ended\u00a0\u00a0\u00a0\u00a0October 26,\u00a0October 27,\u00a0October 26,\u00a0October 27,\u00a0\u00a0\u00a0\u00a02025
\u00a02024
\u00a02025
\u00a02024
\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Revenue$57,006\u00a0\u00a0$35,082\u00a0\u00a0$147,811\u00a0\u00a0$91,166\u00a0\u00a0Cost of revenue\u00a015,157\u00a0\u00a0\u00a08,926\u00a0\u00a0\u00a045,441\u00a0\u00a0\u00a022,031\u00a0\u00a0Gross profit\u00a041,849\u00a0\u00a0\u00a026,156\u00a0\u00a0\u00a0102,370\u00a0\u00a0\u00a069,135\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Operating expenses\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Research and development\u00a04,705\u00a0\u00a0\u00a03,390\u00a0\u00a0\u00a012,985\u00a0\u00a0\u00a09,200\u00a0\u00a0\u00a0Sales, general and administrative\u00a01,134\u00a0\u00a0\u00a0897\u00a0\u00a0\u00a03,297\u00a0\u00a0\u00a02,516\u00a0\u00a0\u00a0\u00a0Total operating expenses\u00a05,839\u00a0\u00a0\u00a04,287\u00a0\u00a0\u00a016,282\u00a0\u00a0\u00a011,716\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Operating income\u00a036,010\u00a0\u00a0\u00a021,869\u00a0\u00a0\u00a086,088\u00a0\u00a0\u00a057,419\u00a0\u00a0\u00a0Interest income\u00a0624\u00a0\u00a0\u00a0472\u00a0\u00a0\u00a01,732\u00a0\u00a0\u00a01,275\u00a0\u00a0\u00a0Interest expense\u00a0(61)\u00a0\u00a0(61)\u00a0\u00a0(186)\u00a0\u00a0(186)\u00a0\u00a0Other income, net\u00a01,363\u00a0\u00a0\u00a036\u00a0\u00a0\u00a03,418\u00a0\u00a0\u00a0301\u00a0\u00a0\u00a0\u00a0Total other income, net\u00a01,926\u00a0\u00a0\u00a0447\u00a0\u00a0\u00a04,964\u00a0\u00a0\u00a01,390\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Income before income tax\u00a037,936\u00a0\u00a0\u00a022,316\u00a0\u00a0\u00a091,052\u00a0\u00a0\u00a058,809\u00a0\u00a0Income tax expense\u00a06,026\u00a0\u00a0\u00a03,007\u00a0\u00a0\u00a013,945\u00a0\u00a0\u00a08,020\u00a0\u00a0Net income$31,910\u00a0\u00a0$19,309\u00a0\u00a0$77,107\u00a0\u00a0$50,789\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Net income per share:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Basic$1.31\u00a0\u00a0$0.79\u00a0\u00a0$3.16\u00a0\u00a0$2.07\u00a0\u00a0\u00a0Diluted$1.30\u00a0\u00a0$0.78\u00a0\u00a0$3.14\u00a0\u00a0$2.04\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Weighted average shares used in per share computation:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Basic\u00a024,327\u00a0\u00a0\u00a024,533\u00a0\u00a0\u00a024,378\u00a0\u00a0\u00a024,577\u00a0\u00a0\u00a0Diluted\u00a024,483\u00a0\u00a0\u00a024,774\u00a0\u00a0\u00a024,542\u00a0\u00a0\u00a024,837\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 NVIDIA CORPORATION\u00a0CONDENSED CONSOLIDATED BALANCE SHEETS\u00a0(In millions)\u00a0(Unaudited)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0October 26,\u00a0January 26,\u00a0\u00a0\u00a0\u00a0\u00a02025
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\u00a0ASSETS\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Current assets:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Cash, cash equivalents and marketable securities\u00a0$60,608\u00a0$43,210\u00a0\u00a0Accounts receivable, net\u00a0\u00a033,391\u00a0\u00a023,065\u00a0\u00a0Inventories\u00a0\u00a019,784\u00a0\u00a010,080\u00a0\u00a0Prepaid expenses and other current assets\u00a0\u00a02,709\u00a0\u00a03,771\u00a0\u00a0\u00a0Total current assets\u00a0\u00a0116,492\u00a0\u00a080,126\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Property and equipment, net\u00a0\u00a09,780\u00a0\u00a06,283\u00a0Operating lease assets\u00a0\u00a02,281\u00a0\u00a01,793\u00a0Goodwill\u00a0\u00a06,261\u00a0\u00a05,188\u00a0Intangible assets, net\u00a0\u00a0936\u00a0\u00a0807\u00a0Deferred income tax assets\u00a0\u00a013,674\u00a0\u00a010,979\u00a0Other assets\u00a0\u00a011,724\u00a0\u00a06,425\u00a0\u00a0\u00a0Total assets\u00a0$161,148\u00a0$111,601\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0LIABILITIES AND SHAREHOLDERS’ EQUITY\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Current liabilities:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Accounts payable\u00a0$8,624\u00a0$6,310\u00a0\u00a0Accrued and other current liabilities\u00a0\u00a016,452\u00a0\u00a011,737\u00a0\u00a0Short-term debt\u00a0\u00a0999\u00a0\u00a0–\u00a0\u00a0\u00a0Total current liabilities\u00a0\u00a026,075\u00a0\u00a018,047\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Long-term debt\u00a0\u00a07,468\u00a0\u00a08,463\u00a0Long-term operating lease liabilities\u00a0\u00a02,014\u00a0\u00a01,519\u00a0Other long-term liabilities\u00a0\u00a06,694\u00a0\u00a04,245\u00a0\u00a0\u00a0Total liabilities\u00a0\u00a042,251\u00a0\u00a032,274\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Shareholders’ equity\u00a0\u00a0118,897\u00a0\u00a079,327\u00a0\u00a0\u00a0Total liabilities and shareholders’ equity\u00a0$161,148\u00a0$111,601\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 NVIDIA CORPORATION\u00a0CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS\u00a0(In millions)\u00a0(Unaudited)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Three Months Ended\u00a0Nine Months Ended\u00a0\u00a0\u00a0October 26,\u00a0October 27,\u00a0October 26,\u00a0October 27,\u00a0\u00a0\u00a02025
\u00a02024
\u00a02025
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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Cash flows from operating activities:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Net income$31,910\u00a0\u00a0$19,309\u00a0\u00a0$77,107\u00a0\u00a0$50,789\u00a0\u00a0Adjustments to reconcile net income to net cash\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0provided by operating activities:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Stock-based compensation expense\u00a01,655\u00a0\u00a0\u00a01,252\u00a0\u00a0\u00a04,753\u00a0\u00a0\u00a03,416\u00a0\u00a0\u00a0Depreciation and amortization\u00a0752\u00a0\u00a0\u00a0478\u00a0\u00a0\u00a02,031\u00a0\u00a0\u00a01,321\u00a0\u00a0\u00a0Deferred income taxes\u00a0124\u00a0\u00a0\u00a0(602)\u00a0\u00a0(2,035)\u00a0\u00a0(3,879)\u00a0\u00a0Gains on non-marketable equity securities and publicly-held equity securities, net\u00a0(1,354)\u00a0\u00a0(37)\u00a0\u00a0(3,426)\u00a0\u00a0(302)\u00a0\u00a0Other\u00a0(80)\u00a0\u00a0(79)\u00a0\u00a0(276)\u00a0\u00a0(365)\u00a0Changes in operating assets and liabilities, net of acquisitions:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Accounts receivable\u00a0(5,583)\u00a0\u00a0(3,561)\u00a0\u00a0(10,325)\u00a0\u00a0(7,694)\u00a0\u00a0Inventories\u00a0(4,823)\u00a0\u00a0(978)\u00a0\u00a0(9,703)\u00a0\u00a0(2,357)\u00a0\u00a0Prepaid expenses and other assets\u00a0(89)\u00a0\u00a0(714)\u00a0\u00a0857\u00a0\u00a0\u00a0(726)\u00a0\u00a0Accounts payable\u00a0(223)\u00a0\u00a01,689\u00a0\u00a0\u00a02,032\u00a0\u00a0\u00a02,490\u00a0\u00a0\u00a0Accrued and other current liabilities\u00a01,129\u00a0\u00a0\u00a0606\u00a0\u00a0\u00a04,204\u00a0\u00a0\u00a03,918\u00a0\u00a0\u00a0Other long-term liabilities\u00a0332\u00a0\u00a0\u00a0266\u00a0\u00a0\u00a01,311\u00a0\u00a0\u00a0849\u00a0\u00a0Net cash provided by operating activities\u00a023,750\u00a0\u00a0\u00a017,629\u00a0\u00a0\u00a066,530\u00a0\u00a0\u00a047,460\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Cash flows from investing activities:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Proceeds from maturities of marketable securities\u00a02,728\u00a0\u00a0\u00a01,386\u00a0\u00a0\u00a08,980\u00a0\u00a0\u00a09,485\u00a0\u00a0\u00a0Proceeds from sales of non-marketable equity securities\u00a02\u00a0\u00a0\u00a066\u00a0\u00a0\u00a072\u00a0\u00a0\u00a0171\u00a0\u00a0\u00a0Proceeds from sales of marketable securities\u00a0–\u00a0\u00a0\u00a0154\u00a0\u00a0\u00a0487\u00a0\u00a0\u00a0318\u00a0\u00a0\u00a0Purchases of marketable securities\u00a0(5,718)\u00a0\u00a0(4,518)\u00a0\u00a0(20,076)\u00a0\u00a0(19,565)\u00a0\u00a0Purchases of non-marketable equity securities\u00a0(3,706)\u00a0\u00a0(473)\u00a0\u00a0(4,702)\u00a0\u00a0(1,008)\u00a0\u00a0Purchases related to property and equipment and intangible assets\u00a0(1,637)\u00a0\u00a0(813)\u00a0\u00a0(4,758)\u00a0\u00a0(2,159)\u00a0\u00a0Acquisitions, net of cash acquired\u00a0(694)\u00a0\u00a0(147)\u00a0\u00a0(1,370)\u00a0\u00a0(465)\u00a0Net cash used in investing activities\u00a0(9,025)\u00a0\u00a0(4,345)\u00a0\u00a0(21,367)\u00a0\u00a0(13,223)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Cash flows from financing activities:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Proceeds related to employee stock plans\u00a0274\u00a0\u00a0\u00a0204\u00a0\u00a0\u00a0643\u00a0\u00a0\u00a0489\u00a0\u00a0\u00a0Payments related to repurchases of common stock\u00a0(12,456)\u00a0\u00a0(10,998)\u00a0\u00a0(36,271)\u00a0\u00a0(25,895)\u00a0\u00a0Payments related to employee stock plan taxes\u00a0(2,429)\u00a0\u00a0(1,680)\u00a0\u00a0(5,809)\u00a0\u00a0(5,068)\u00a0\u00a0Dividends paid\u00a0(243)\u00a0\u00a0(245)\u00a0\u00a0(732)\u00a0\u00a0(589)\u00a0\u00a0Principal payments on property and equipment and intangible assets\u00a0(24)\u00a0\u00a0(29)\u00a0\u00a0(97)\u00a0\u00a0(97)\u00a0\u00a0Repayment of debt\u00a0–\u00a0\u00a0\u00a0–\u00a0\u00a0\u00a0–\u00a0\u00a0\u00a0(1,250)\u00a0Net cash used in financing activities\u00a0(14,878)\u00a0\u00a0(12,748)\u00a0\u00a0(42,266)\u00a0\u00a0(32,410)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Change in cash and cash equivalents\u00a0(153)\u00a0\u00a0536\u00a0\u00a0\u00a02,897\u00a0\u00a0\u00a01,827\u00a0\u00a0Cash and cash equivalents at beginning of period\u00a011,639\u00a0\u00a0\u00a08,571\u00a0\u00a0\u00a08,589\u00a0\u00a0\u00a07,280\u00a0\u00a0Cash and cash equivalents at end of period$11,486\u00a0\u00a0$9,107\u00a0\u00a0$11,486\u00a0\u00a0$9,107\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Supplemental\u00a0disclosures\u00a0of\u00a0cash flow information:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Cash paid for income taxes, net$4,858\u00a0\u00a0$3,540\u00a0\u00a0$13,309\u00a0\u00a0$10,989\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0NVIDIA CORPORATION\u00a0RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES\u00a0(In millions, except per share data)\u00a0(Unaudited)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Three Months Ended\u00a0Nine Months Ended\u00a0\u00a0\u00a0October 26,\u00a0July 27,\u00a0October 27,\u00a0October 26,\u00a0October 27,\u00a0\u00a0\u00a02025
\u00a02025
\u00a02024
\u00a02025
\u00a02024
\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0GAAP cost of revenue$15,157\u00a0\u00a0$12,890\u00a0\u00a0$8,926\u00a0\u00a0$45,441\u00a0\u00a0$22,031\u00a0\u00a0GAAP gross profit$41,849\u00a0\u00a0$33,853\u00a0\u00a0$26,156\u00a0\u00a0$102,370\u00a0\u00a0$69,135\u00a0\u00a0GAAP gross margin\u00a073.4%\u00a0\u00a072.4%\u00a0\u00a074.6%\u00a0\u00a069.3%\u00a0\u00a075.8%\u00a0\u00a0Acquisition-related and other costs (A)\u00a048\u00a0\u00a0\u00a049\u00a0\u00a0\u00a0116\u00a0\u00a0\u00a0219\u00a0\u00a0\u00a0355\u00a0\u00a0\u00a0Stock-based compensation expense (B)\u00a070\u00a0\u00a0\u00a058\u00a0\u00a0\u00a050\u00a0\u00a0\u00a0192\u00a0\u00a0\u00a0125\u00a0\u00a0\u00a0Other\u00a0–\u00a0\u00a0\u00a0–\u00a0\u00a0\u00a0–\u00a0\u00a0\u00a04\u00a0\u00a0\u00a0(4)\u00a0Non-GAAP cost of revenue$15,039\u00a0\u00a0$12,783\u00a0\u00a0$8,760\u00a0\u00a0$45,026\u00a0\u00a0$21,555\u00a0\u00a0Non-GAAP gross profit$41,967\u00a0\u00a0$33,960\u00a0\u00a0$26,322\u00a0\u00a0$102,785\u00a0\u00a0$69,611\u00a0\u00a0\u00a0Non-GAAP gross margin **\u00a073.6%\u00a0\u00a072.7%\u00a0\u00a075.0%\u00a0\u00a069.5%\u00a0\u00a076.4%\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0GAAP operating expenses$5,839\u00a0\u00a0$5,413\u00a0\u00a0$4,287\u00a0\u00a0$16,282\u00a0\u00a0$11,716\u00a0\u00a0\u00a0Stock-based compensation expense (B)\u00a0(1,585)\u00a0\u00a0(1,566)\u00a0\u00a0(1,202)\u00a0\u00a0(4,561)\u00a0\u00a0(3,291)\u00a0\u00a0Acquisition-related and other costs (A)\u00a0(39)\u00a0\u00a0(37)\u00a0\u00a0(39)\u00a0\u00a0(113)\u00a0\u00a0(86)\u00a0\u00a0Other\u00a0–\u00a0\u00a0\u00a0(15)\u00a0\u00a0–\u00a0\u00a0\u00a0(15)\u00a0\u00a0–\u00a0\u00a0Non-GAAP operating expenses$4,215\u00a0\u00a0$3,795\u00a0\u00a0$3,046\u00a0\u00a0$11,593\u00a0\u00a0$8,339\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0GAAP operating income$36,010\u00a0\u00a0$28,440\u00a0\u00a0$21,869\u00a0\u00a0$86,088\u00a0\u00a0$57,419\u00a0\u00a0\u00a0Total impact of non-GAAP adjustments to operating income\u00a01,742\u00a0\u00a0\u00a01,725\u00a0\u00a0\u00a01,407\u00a0\u00a0\u00a05,104\u00a0\u00a0\u00a03,853\u00a0\u00a0Non-GAAP operating income$37,752\u00a0\u00a0$30,165\u00a0\u00a0$23,276\u00a0\u00a0$91,192\u00a0\u00a0$61,272\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0GAAP total other income, net$1,926\u00a0\u00a0$2,766\u00a0\u00a0$447\u00a0\u00a0$4,964\u00a0\u00a0$1,390\u00a0\u00a0\u00a0Gains from non-marketable equity securities and publicly-held equity securities, net\u00a0(1,354)\u00a0\u00a0(2,247)\u00a0\u00a0(37)\u00a0\u00a0(3,426)\u00a0\u00a0(302)\u00a0\u00a0Interest expense related to amortization of debt discount\u00a01\u00a0\u00a0\u00a01\u00a0\u00a0\u00a01\u00a0\u00a0\u00a03\u00a0\u00a0\u00a03\u00a0\u00a0Non-GAAP total other income, net$573\u00a0\u00a0$520\u00a0\u00a0$411\u00a0\u00a0$1,541\u00a0\u00a0$1,091\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0GAAP net income$31,910\u00a0\u00a0$26,422\u00a0\u00a0$19,309\u00a0\u00a0$77,107\u00a0\u00a0$50,789\u00a0\u00a0\u00a0Total pre-tax impact of non-GAAP adjustments\u00a0389\u00a0\u00a0\u00a0(521)\u00a0\u00a01,371\u00a0\u00a0\u00a01,680\u00a0\u00a0\u00a03,554\u00a0\u00a0\u00a0Income tax impact of non-GAAP adjustments (C)\u00a0(532)\u00a0\u00a0(166)\u00a0\u00a0(670)\u00a0\u00a0(1,391)\u00a0\u00a0(2,144)\u00a0\u00a0Tax expense from OBBBA*\u00a0–\u00a0\u00a0\u00a048\u00a0\u00a0\u00a0–\u00a0\u00a0\u00a048\u00a0\u00a0\u00a0–\u00a0\u00a0Non-GAAP net income **$31,767\u00a0\u00a0$25,783\u00a0\u00a0$20,010\u00a0\u00a0$77,444\u00a0\u00a0$52,199\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Diluted net income per share\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0GAAP$1.30\u00a0\u00a0$1.08\u00a0\u00a0$0.78\u00a0\u00a0$3.14\u00a0\u00a0$2.04\u00a0\u00a0\u00a0Non-GAAP **$1.30\u00a0\u00a0$1.05\u00a0\u00a0$0.81\u00a0\u00a0$3.16\u00a0\u00a0$2.10\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Weighted average shares used in diluted net income per share computation\u00a024,483\u00a0\u00a0\u00a024,532\u00a0\u00a0\u00a024,774\u00a0\u00a0\u00a024,542\u00a0\u00a0\u00a024,837\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0GAAP net cash provided by operating activities$23,750\u00a0\u00a0$15,365\u00a0\u00a0$17,629\u00a0\u00a0$66,530\u00a0\u00a0$47,460\u00a0\u00a0\u00a0Purchases related to property and equipment and intangible assets\u00a0(1,637)\u00a0\u00a0(1,894)\u00a0\u00a0(813)\u00a0\u00a0(4,758)\u00a0\u00a0(2,159)\u00a0\u00a0Principal payments on property and equipment and intangible assets\u00a0(24)\u00a0\u00a0(21)\u00a0\u00a0(29)\u00a0\u00a0(97)\u00a0\u00a0(97)\u00a0Free cash flow$22,089\u00a0\u00a0$13,450\u00a0\u00a0$16,787\u00a0\u00a0$61,675\u00a0\u00a0$45,204\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0*Tax expense included represents impact from OBBBA (One Big Beautiful Bill Act).\u00a0**Includes H20 charges\/(releases), net, which were $4.5 billion, ($180 million), and insignificant, for the first, second, and third quarter of fiscal 2026, respectively.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(A) Acquisition-related and other costs are comprised of amortization of intangible assets, transaction costs, and certain compensation charges and are included in the following line items:\u00a0\u00a0\u00a0Three Months Ended\u00a0Nine Months Ended\u00a0\u00a0\u00a0October 26,\u00a0July 27,\u00a0October 27,\u00a0October 26,\u00a0October 27,\u00a0\u00a0\u00a02025
\u00a02025
\u00a02024
\u00a02025
\u00a02024
\u00a0\u00a0Cost of revenue$48\u00a0\u00a0$49\u00a0\u00a0$116\u00a0\u00a0$219\u00a0\u00a0$355\u00a0\u00a0\u00a0Research and development$35\u00a0\u00a0$29\u00a0\u00a0$23\u00a0\u00a0$93\u00a0\u00a0$52\u00a0\u00a0\u00a0Sales, general and administrative$4\u00a0\u00a0$8\u00a0\u00a0$16\u00a0\u00a0$20\u00a0\u00a0$34\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(B) Stock-based compensation consists of the following:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Three Months Ended\u00a0Nine Months Ended\u00a0\u00a0\u00a0October 26,\u00a0July 27,\u00a0October 27,\u00a0October 26,\u00a0October 27,\u00a0\u00a0\u00a02025
\u00a02025
\u00a02024
\u00a02025
\u00a02024
\u00a0\u00a0Cost of revenue$70\u00a0\u00a0$58\u00a0\u00a0$50\u00a0\u00a0$192\u00a0\u00a0$125\u00a0\u00a0\u00a0Research and development$1,206\u00a0\u00a0$1,191\u00a0\u00a0$910\u00a0\u00a0$3,460\u00a0\u00a0$2,469\u00a0\u00a0\u00a0Sales, general and administrative$379\u00a0\u00a0$375\u00a0\u00a0$292\u00a0\u00a0$1,101\u00a0\u00a0$822\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(C) Income tax impact of non-GAAP adjustments, including the recognition of excess tax benefits or deficiencies related to stock-based compensation under GAAP accounting standard (ASU 2016-09).\u00a0\u00a0\u00a0\u00a0 NVIDIA CORPORATIONRECONCILIATION OF GAAP TO NON-GAAP OUTLOOK\u00a0\u00a0\u00a0Q4 FY2026 Outlook\u00a0\u00a0($ in millions)\u00a0\u00a0\u00a0GAAP gross margin\u00a074.8%\u00a0Impact of stock-based compensation expense, acquisition-related costs, and other costs\u00a00.2%Non-GAAP gross margin\u00a075.0%\u00a0\u00a0\u00a0GAAP operating expenses$6,650\u00a0\u00a0Stock-based compensation expense, acquisition-related costs, and other costs\u00a0(1,650)Non-GAAP operating expenses$5,000\u00a0\u00a0\u00a0\u00a0 <\/p>\n

About NVIDIA<\/p>\n

NVIDIA<\/a> (NASDAQ: NVDA) is the world leader in AI and accelerated computing.<\/p>\n

For further information, contact:<\/p>\n

Certain statements in this press release including, but not limited to, statements as to: compute demand keeping accelerating and compounding across training and inference \u2014 each growing exponentially; the AI ecosystem scaling fast\u00a0\u2014 with more new foundation model makers, more AI startups, across more industries, and in more countries; AI going everywhere, doing everything, all at once; expectations with respect to growth, performance and benefits of NVIDIA\u2019s products, services and technologies, including Blackwell, and related trends and drivers; expectations with respect to supply and demand for NVIDIA\u2019s products, services and technologies, including Blackwell, and related matters including inventory, production and distribution; expectations with respect to NVIDIA\u2019s third party arrangements, including with its collaborators and partners; expectations with respect to technology developments, including Rubin, and related trends and drivers; future NVIDIA cash dividends or other returns to stockholders; NVIDIA\u2019s financial and business outlook for the fourth quarter of fiscal 2026 and beyond; projected market growth and trends; expectations with respect to AI and related industries; and other statements that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the \u201csafe harbor\u201d created by those sections based on management\u2019s beliefs and assumptions and on information currently available to management and are subject to risks and uncertainties that could cause results to be materially different than expectations. Important factors that could cause actual results to differ materially include: global economic and political conditions; NVIDIA\u2019s reliance on third parties to manufacture, assemble, package and test NVIDIA\u2019s products; the impact of technological development and competition; development of new products and technologies or enhancements to NVIDIA\u2019s existing product and technologies; market acceptance of NVIDIA\u2019s products or NVIDIA\u2019s partners\u2019 products; design, manufacturing or software defects; changes in consumer preferences or demands; changes in industry standards and interfaces; unexpected loss of performance of NVIDIA\u2019s products or technologies when integrated into systems; and changes in applicable laws and regulations, as well as other factors detailed from time to time in the most recent reports NVIDIA files with the Securities and Exchange Commission, or SEC, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q. Copies of reports filed with the SEC are posted on the company\u2019s website and are available from NVIDIA without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.<\/p>\n

\u00a9 2025 NVIDIA Corporation. All rights reserved. NVIDIA, the NVIDIA logo, DGX Spark, BlueField, GeForce, NVIDIA DRIVE AGX Hyperion, NVIDIA IGX Thor, NVIDIA Omniverse, NVIDIA RTX PRO, NVQLink, Spectrum-X, TensorRT, and NVLink Fusion are trademarks and\/or registered trademarks of NVIDIA Corporation in the U.S. and\/or other countries. Other company and product names may be trademarks of the respective companies with which they are associated. Features, pricing, availability and specifications are subject to change without notice.<\/p>\n

A photo accompanying this announcement is available at https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/aabe86db-ce89-4434-b83c-495082979801<\/a><\/p>\n

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