Nvidia reports Q3 revenue up 62% YoY to $57.01B, above $54.92B est., Data Center revenue up 66% YoY, and forecasts Q4 revenue above est.

Nvidia reported fiscal third-quarter earnings and revenue that topped Wall Street expectations on Wednesday and provided stronger-than-expected sales guidance for the fourth quarter.

CNBC 2025-11-20 Kif Leswing

Context & Ripple Effects

Nvidia’s reported growth has moderated from the extraordinary rates in its 2023 Q3 results and 2024 Q3 performance, but the revenue base has expanded sharply. The company’s prior quarter delivered $46.74B in sales, making this quarter’s $57.01B another substantial sequential step.

Data Center remains the central driver: it grew 66% year over year after rising 56% in the preceding quarter. Above-consensus fourth-quarter guidance indicates that demand has continued beyond a single quarterly delivery cycle.

First-order effects

Nvidia enters the fourth quarter with a stronger sales outlook than analysts expected, while its Data Center business remains the primary contributor to current growth.
The results reinforce Nvidia’s ability to convert sustained data-center demand into revenue at a much larger scale than in prior reporting periods.

Second-order effects

Customers and infrastructure partners planning AI capacity gain a signal that Nvidia’s data-center demand remains active, supporting continued procurement and deployment planning across the supply chain.
Rival chip and systems vendors face a higher bar: Nvidia’s beat and outlook extend the benchmark they must match on both data-center adoption and execution.

Third-order effects

If this cadence persists, AI infrastructure spending is becoming a recurring data-center investment cycle rather than a one-time buildout, concentrating strategic importance in compute platforms and their surrounding supply chains.
The slowing percentage growth rate alongside rising absolute revenue suggests the key question is shifting from whether demand exists to how long large-scale capacity expansion can be sustained.

The trend: Nvidia’s results are another data point in the AI infrastructure supercycle, where rapidly expanding data-center compute demand is being measured against an increasingly large installed spending base.

Discussion

@garymarcus Gary Marcus on x
A reality check on NVDA: Going into Nvidia's report 1. We knew they were selling loads of chips. 2. We had concerns about profitability of their customers. 3. We had concerns about depreciation and debt for their customers. 4. We had concerns about the reliability of LLMs. 5.
@nvidianewsroom @nvidianewsroom on x
NVIDIA CEO Jensen Huang on record Q3 FY26 results. [image]
@edzitron Ed Zitron on x
So per NVIDIA's earnings, it appears that NVIDIA has *agreed* to invest in Anthropic, but its investment in OpenAI is a “letter of intent with an opportunity to invest.” Very strange! [image]
@unusual_whales @unusual_whales on x
On Nvidia $NVDA earnings call, they just said “we are still in the early innings” regarding growth and AI revenue.
@jimcramer Jim Cramer on x
In all my years of following Nvidia I have never heard that team more fired up!!!!
@divestech Dan Ives on x
Most bullish Nvidia call given Blackwell and Rubin demand off the charts and a $500 billion backlog (and building quickly) into FY26. Anyone saying AI Bubble is not listening to this call/seeing the numbers of trillions of more demand per Jensen coming down the road. 🔥🏆🐂🍿🎯
@thetranscript_ @thetranscript_ on x
$NVDA CFO just now: “We currently have visibility to a half a trillion dollars in Blackwell and Rubin revenue from the start of this year through the end of calendar year 2026. ..we believe Nvidia will be the superior choice for the three to four trillion dollars in annual AI
@zerohedge @zerohedge on x
*NVIDIA SAYS WORKING ON STRATEGIC RELATIONSHIP WITH OPENAI and the kiss of death
@divestech Dan Ives on x
Massive beat and raise Nvidia. $3 billion Jan guidance raise well above whisper (~$1.8 billion) and commentary in PR shows this AI Revolution still in early innings. Major validation moment from the Godfather of AI Jensen and Nvidia. Conf call will be key re:China, demand 🐂🔥
@economyapp @economyapp on x
$NVDA NVIDIA Q3 FY26 (October quarter). • Revenue +62% Y/Y to $57B ($1.9B beat). • Operating margin 63% (+1pp Y/Y). • Non-GAAP EPS $1.30 ($0.04 beat). Q4 FY26 guidance: • Revenue $65B ($3.2B beat). [image]
@kimmonismus @kimmonismus on x
NVIDIA's magic takes place: Jensen takes its own action, NVIDIA now on new ATHs Earnings per share: $1.30 adjusted vs. $1.25 estimated Revenue: $57.01 billion vs. $54.92 billion estimated Nvidia said it expects about $65 billion in sales in the current quarter, versus $61.66 [ima…
@stocksavvyshay Shay Boloor on x
Tune into CNBC in 2 hours to hear my $NVDA post-earnings takeaway. Spoiler: the AI supercycle is real, it's early & it's accelerating. Nvidia remains the center of gravity in this entire shift because it is the only one shipping a unified architecture that touches every phase of
@zerohedge @zerohedge on x
*NVIDIA SAYS GEOPOLITICS STILL HAMPERING CHINA MARKET ACCESS *NVIDIA SAYS SIZABLE PURCHASES DIDN'T MATERIALIZE IN CHINA
@amitisinvesting Amit on x
$NVDA The only sell-side analyst on the street with a sell rating on Nvidia reacts to their Q3: “It's okay, ill give them that. But, it's a more than one quarter game here.” why do people choose to be miserable [video]
@andrewyng Andrew Ng on x
I just dumped the latest NVIDIA 10-Q earnings report, released an hour ago, into Agentic Document Extraction, and the results are really accurate! Left side of the image shows the original PDF; right side shows the extracted info, including e.g. the $57.01B revenue in the most [i…
@scobleizer Robert Scoble on x
The AI bubble is not a bubble. It is a series of waves. Tried to tell you. The waves will continue for years. Surf is up. Catch the waves that you can. They are coming in tight sets today.
@nvidianewsroom @nvidianewsroom on x
NEWS: NVIDIA announces financial results for the third quarter of fiscal 2026. ➡️ Record revenue of $57.0 billion, up 22% from Q2 and 62% from a year ago ➡️ Record Data Center revenue of $51.2 billion, up 25% from Q2 and 66% from a year ago Read more: https://nvidianews.nvidia.co…
@jukanlosreve Jukan on x
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@edzitron Ed Zitron on x
For NVIDIA to retain its stock price it must grow exponentially effectively forever. This company is very profitable and keeps growing more, but at some point the amount of money they need will outstrip demand. https://x.com/...
@stevesi Steven Sinofsky on x
TABLE OF THE DAY. On @CNBC just now anchors bantering and rhetorically asking why so much interest in Nvidia earnings and reminded viewers how widely held it is (717 ETFs). Here's 1990 (pre-tech), 1999 (pre-burst), 2025 comparing top F500 rank, S&P weight, and mkt cap. [image]
@melt_dem Meltem Demirors on x
nvidia earnings call, first sixty seconds “we have line of sight to a half trillion in revenue in 2026” the bubble hasn't started yet
@stevesi Steven Sinofsky on x
Shows the broad economic shift and why it it is not a bubble to pay close attention to not just Nvidia but tech. In 1990 to the degree there were nerves about the economy it was about 75 year old companies which were widely held. Economy has dramatically changed in just 20 yrs. […
@amitisinvesting Amit on x
woah first thing Jensen says on the call: “There's been a lot of talk about the AI bubble, here's what we are seeing at Nvidia.” completely addresses the bubble concerns head first and then proceeds to challenge the narrative by explaining Nvidia's growth
@michaeljburry Cassandra Unchained on x
The idea of a useful life for depreciation being longer because chips from more than 3-4 years ago are fully booked confuses physical utilization with value creation. Just because something is used does not mean it is profitable. GAAP refers to economic benefits...
@elerianm Mohamed A. El-Erian on x
Nvidia's quarterly earnings results are stronger than expected, including a revenue beat. Its outlook is also strong, noting favorable shifts in both the level and composition of demand. Collectively, this reinforces the AI optimism that extends to the broader promise of
@edzitron Ed Zitron on x
the question is whether 45.9% year over year growth is enough for the markets' unhealthy relationship with this stock. guess we'll find out
@firstadopter Tae Kim on x
Three words. Nvidia NVL72 supercycle
@michaeljburry Cassandra Unchained on x
Since the beginning of 2018, NVDA earned about $205B net income and $188B free cash flow, assuming all cap ex was growth cap ex. SBC amounted to $20.5B. But it bought back $112.5B worth of stock and there are 47 million MORE shares outstanding. The true cost of that SBC diluti…
@thetranscript_ @thetranscript_ on x
$NVDA CEO during the call did mention they run Gemini btw: “Taking a step back, Nvidia's platform is the singular platform in the world that runs every AI model. We run OpenAI. We run Anthropic. We run xAI. ... We run Gemini. We run Thinking Machines. We run them all. We a…
@ericjhonsa Eric Jhonsa on x
A few things that stand out in $NVDA's CFO commentary: 1) “Supply-related commitments” were at $50.3B at the end of FQ3, and “multi-year cloud service agreements” rose by $13.4B Q/Q to $26B. For comparison, Nvidia said in August that “total purchase commitments” (inclusive of [im…
@thestalwart Joe Weisenthal on x
$NVDA closed up 3%
r/technology r on reddit
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r/NVDA_Stock r on reddit
Nvidia Earnings per share: $1.30 adjusted vs. $1.25 estimated, Revenue: $57.01 billion vs. $54.92 billion estimated

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