Nvidia reports Q4 revenue up 78% YoY to $39.33B, vs. $38.05B est., Data Center revenue up 93% to $35.6B, and FY 2025 revenue up 114% to $130.5B

Nvidia reported fourth-quarter earnings after the bell on Wednesday that beat Wall Street expectations. The company also provided strong guidance for the current quarter.

CNBC 2025-02-27 Kif Leswing

Context & Ripple Effects

Nvidia’s latest results extend a run of rapidly expanding data-center sales: its preceding quarter delivered $30.8B in Data Center revenue, after a $30B-revenue quarter that also came with above-estimate guidance. The current report shows that the growth base has become much larger even as year-over-year growth remains high.

The importance is concentrated in the Data Center business, which supplied most of Nvidia’s reported quarterly revenue and grew faster than the company overall. Strong current-quarter guidance reinforces that this was not presented as a one-quarter demand spike.

First-order effects

Nvidia beats revenue expectations with $39.33B in Q4 sales, while Data Center revenue reaches $35.6B; the segment becomes even more central to the company’s near-term performance.
Strong guidance raises the near-term operating benchmark for Nvidia after fiscal-year revenue more than doubled to $130.5B.

Second-order effects

The result strengthens expectations that customers are continuing to fund data-center compute purchases, supporting the spending case captured by the prior quarter’s above-estimate Data Center revenue.
Other suppliers and competing compute vendors face a higher bar: Nvidia’s sustained growth and guidance make it harder for alternatives to argue that demand is shifting away from its platform.

Third-order effects

If Data Center continues to drive Nvidia’s results at this scale, AI infrastructure budgets will increasingly shape the financial performance and strategic priorities of the broader compute supply chain.
The pattern points to a more capital-intensive compute market, where access to leading data-center capacity and the financing behind it can matter as much as end-user software demand.

The trend: This is another data point in the shift toward AI data-center infrastructure as the dominant growth engine in semiconductor and compute finance.

Discussion

@nic__carter Nic Carter on x
NVIDIA beats as it becomes clear that reasoning models absolutely inhale compute
@thezvi Zvi Mowshowitz on x
Since many people seem not to know: NVDA pays the minimum possible dividend, $0.01, so that the various indexes and funds that only include dividend-paying stocks will be able to include and buy them. It's not a ‘real’ dividend and isn't meant to be one.
@thetranscript_ @thetranscript_ on x
$NVDA CEO: “Lastly, no technology has ever had the opportunity to address a larger part of the world's GDP than AI. No software tool ever has. And so this is now a software tool that can address a much larger part of the world's GDP more than any time in history. And so the wa…
@thetranscript_ @thetranscript_ on x
$NVDA CFO: “Gaming revenue for fiscal 2025 was up 9% from a year ago, driven by sales of our GeForce RTX 40 Series GPUs. Gaming revenue for the fourth quarter was down 11% from a year ago and down 22% sequentially, due to limited supply for both Blackwell and Ada GPU” [image]
@beth_kindig Beth Kindig on x
Nvidia $NVDA on Blackwell: “We delivered $11.0 billion of Blackwell architecture revenue in the fourth quarter of fiscal 2025, the fastest product ramp in our company's history.”
@thetranscript_ @thetranscript_ on x
$NVDA CFO: “Automotive revenue for fiscal 2025 was up 55% from a year ago. Automotive revenue for the fourth quarter was up 103% from a year ago and up 27% sequentially. These increases were driven by sales of our self-driving platforms” [image]
@morningbrew @morningbrew on x
Nvidia full year revenue, last three years: • FY25 $130.5 billion (+114%) • FY24 $60.9 billion (+126%) • FY23 $27.0 billion To the moon.
@thetranscript_ @thetranscript_ on x
$NVDA CFO: “Data Center revenue for FY 25 was $115.2B, up 142% YoY. Data Center revenue for Q4 FY 25 was a record, up 93% YoY and up 16% QoQ..We delivered $11.0B of Blackwell architecture revenue in Q4 FY 25, the fastest product ramp in our company's history” [image]
@thetranscript_ @thetranscript_ on x
$NVDA CEO as part of his closing remarks: “Demand for Blackwell is extraordinary. AI is evolving beyond perception and generative AI into reasoning......We designed Blackwell for this moment...Blackwell in all of its configurations is in full production”
@economyapp @economyapp on x
$NVDA NVIDIA Q4 FY25 (January quarter). • Revenue +12% Q/Q to $39.3B ($1.2B beat). • Gross margin 73% (-2pp Q/Q). • Operating margin 61% (-1pp Q/Q). • Non-GAAP EPS $0.89 ($0.04 beat). Q1 FY26 guidance: • Revenue $43.0B ($1.0B beat). [image]
@zerohedge @zerohedge on x
NVDA is unchanged after earnings. Straddles priced in a 10% move. This means that call buyers lost everything, and so did put buyers.
@unusual_whales @unusual_whales on x
BREAKING: Nvidia, $NVDA, earnings details: - Data Center: Q4 revenue of $35.6 billion, up 16% QoQ, up 93% YoY; Full-year revenue up 142% to $115.2 billion - Gaming: Q4 revenue of $2.5 billion, down 22% QoQ, down 11% YoY; Full-year revenue up 9% to $11.4 billion - Professional
@thetranscript_ @thetranscript_ on x
$NVDA CFO on the forecast 70.6% gross margins in Q1 FY 26: “During our Blackwell rollout, our gross margins will be in the low seventies...Our ramp-up wasn't fully complete, and once Blackwell is fully scaled, we expect to improve our costs and gross margins. We anticipate [image…
@levie Aaron Levie on x
“Models like OpenAI's, Grok 3, DeepSeek R1 are reasoning models that apply inference time scaling. Reasoning models can consume 100 times more compute” The cheaper we make AI, the more things we will find to use it for, more than compensating for the efficiency gains. [image]
@dylanonchips @dylanonchips on x
Nvidia more than doubled revenue to $130.5 billion last year due to high demand for its AI chips and systems, and the company made $11 billion from early shipments of its next-generation Blackwell GPUs in the last three months alone—its “fastest product ramp” yet.
@thetranscript_ @thetranscript_ on x
$NVDA CFO: Large cloud service providers (CSPs) drove ~50% of Q4 data center revenue “In Q4, large CSPs represented about half of our data center revenue. A strong sales increase—nearly 2x year-on-year. Large CSPs were among the first to deploy Blackwell with Azure TCP, AWS, and
@yahoofinance @yahoofinance on x
$NVDA's Q4 earnings beat analysts' expectations on the top and bottom line, and the company issued solid Q1 guidance. For the quarter, Nvidia reported EPS of $0.89 on revenue of $39.3 billion. But, the report comes as the company girds itself for potential 25% tariffs on chips [i…
@unusual_whales @unusual_whales on x
Nvidia, $NVDA, CEO Jensen Huang has said: “We've successfully ramped up the massive-scale production of Blackwell AI supercomputers, achieving billions of dollars in sales in its first quarter. AI is advancing at light speed as agentic AI and physical AI set the stage for the
@thetranscript_ @thetranscript_ on x
Nvidia CEO: “Demand for Blackwell is amazing...We've successfully ramped up the massive-scale production of Blackwell AI supercomputers, achieving billions of dollars in sales in its first quarter” $NVDA: -1% AH [image]
@stocksavvyshay Shay Boloor on x
$NVDA CFO: GROSS MARGINS EXPECTED TO CLIMB BACK TO 75% RANGE LATER THIS YEAR FROM 71% 🤩
@iancutress @iancutress on x
As Blackwell ramps, GMs will remain in the low 70s. Over 2025, as cost optimizations of scale kick in, migrate back to mid 70s.
@munster_gene Gene Munster on x
$NVDA Earnings: The near-term results and guide were great but not extraordinary. Long-term things should return to extraordinary. [video]
@ericjhonsa Eric Jhonsa on x
A few initial thoughts on $NVDA's report: 1) The GPU demand/Blackwell ramp story looks fine. FQ1 sales guide of $43B is in-line with buyside expectations, and they did $11B in FQ4 Blackwell sales (they previously suggested they'd do more than “several billion").
@benbajarin Ben Bajarin on x
$NVDA is going to get harder to track for investors who have no supply chain visibility. Product mix of sales and ASP will be more key to projecting financial models and that is largely informed by tracking the supply chain.
@buccocapital @buccocapital on x
Jevon's Paradox bros live to smirk condescendingly for another day
@jimcramer Jim Cramer on x
People will wonder if Nvidia has now become a “perfect” security
@levie Aaron Levie on x
NVIDIA delivers a solid beat as the AI buildout continues. The ultimate lesson from DeepSeek and other breakthroughs will be that demand for AI is insatiable, and the cheaper it gets the more use cases there will be. [image]
@ericjackson Eric Jackson on x
Good quarter from $NVDA... they don't seem to get any respect these days... only blemish is guiding to 71% GMs vs. 72% expected but they're sand-bagging obviously... see how the call and tomorrow goes...
@benbajarin Ben Bajarin on x
GMs actually a really interesting story here. Seemed to be a tick lower than expected, but here is where mix shift and ASP analysis is going to be key. 70+ GMs seem hard to sustain long term. Analyzing @Nvidia hardware sales is in many ways very simlar to analyzing Apple
@munster_gene Gene Munster on x
My initial read on $NVDA is neutral to slightly negative, but the call will determine how it trades tomorrow. ➡️ The guidance for April was about $1B better than the Street's expectations, which were for a looking for a $2B raise. The gross margin guidance for April was 71%,
@edludlow Ed Ludlow on x
Nvidia's 1Q revenue outlook $43.0B PLUS OR MINUS 2%, EST. $42.3B Post market muted. Are you all happy?
@edludlow Ed Ludlow on x
Nvidia delivered $11b of Blackwell architecture revenue in the quarter (4Q)
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