Nvidia(US:NVDA)2025-11-19 21:20Financial Performance - Record revenue of $57.0 billion for Q3 FY26, up 22% from Q2 and up 62% year-over-year[1] - Data Center revenue reached $51.2 billion, up 25% from Q2 and up 66% year-over-year[4] - Q3 FY26 diluted earnings per share were $1.30, a 20% increase from Q2 and a 67% increase year-over-year[5] - Revenue for the three months ended October 26, 2025, was $57,006 million, a 62.5% increase from $35,082 million for the same period in 2024[21] - Gross profit for the nine months ended October 26, 2025, reached $102,370 million, up 48.1% from $69,135 million in the prior year[21] - Operating income for the three months ended October 26, 2025, was $36,010 million, representing a 64.5% increase compared to $21,869 million in the same quarter of 2024[21] - Net income for the three months ended October 26, 2025, was $31,910 million, a 65.5% increase from $19,309 million in the prior year[21] - Basic net income per share for the three months ended October 26, 2025, was $1.31, compared to $0.79 for the same period in 2024[21] Cash Flow and Assets - Cash and cash equivalents at the end of the period were $11,486 million, an increase from $9,107 million at the end of the same period in 2024[26] - Total assets as of October 26, 2025, were $161,148 million, up from $111,601 million in January 2025[23] - Total liabilities increased to $42,251 million from $32,274 million in January 2025[23] - Net cash provided by operating activities for the nine months ended October 26, 2025, was $66,530 million, an increase from $47,460 million in the prior year[25] - Free cash flow for the three months ended October 26, 2025, was $22,089 million, compared to $13,450 million in the previous quarter, representing a 64.5% increase[29] Margins and Income - GAAP and non-GAAP gross margins were 73.4% and 73.6%, respectively[1] - GAAP gross profit for the three months ended October 26, 2025, was $41,849 million, up from $33,853 million in the previous quarter, reflecting a 23.5% increase[28] - Non-GAAP gross margin improved to 73.6% for the three months ended October 26, 2025, compared to 72.7% in the previous quarter[28] - GAAP net income for the three months ended October 26, 2025, was $31,910 million, an increase of 20.3% from $26,422 million in the previous quarter[29] - Non-GAAP net income for the three months ended October 26, 2025, was $31,767 million, an increase from $25,783 million in the previous quarter, reflecting a 23.3% rise[29] Future Outlook - For Q4 FY26, revenue is expected to be $65.0 billion, plus or minus 2%[7] - The company expects a GAAP gross margin of 74.8% for Q4 FY2026, with a non-GAAP gross margin projected at 75.0%[33] Strategic Initiatives - NVIDIA announced a strategic partnership with OpenAI to deploy at least 10 gigawatts of systems for AI infrastructure[8] - NVIDIA plans to invest £2 billion in the U.K. market to build next-generation AI infrastructure[8] - NVIDIA Blackwell achieved the highest performance in the SemiAnalysis InferenceMAX benchmarks, delivering 10x throughput per megawatt compared to the previous generation[7] Gaming Revenue - Third-quarter Gaming revenue was $4.3 billion, down 1% from Q2 but up 30% year-over-year[13] Research and Development - Research and development expenses for the three months ended October 26, 2025, were $4,705 million, compared to $3,390 million in the same period of 2024[21] Shareholder Returns - NVIDIA returned $37.0 billion to shareholders in the first nine months of FY26 through share repurchases and cash dividends[2]