Nvidia(US:NVDA) Xin Lang Cai Jing·2026-02-26 02:48Core Viewpoint - Nvidia's latest quarterly earnings report for fiscal year 2026 showcases record-breaking performance, alleviating market concerns about AI growth, leading to a post-report stock price increase of over 3.7% [1][2]. Financial Performance - For Q4 of fiscal year 2026, Nvidia reported revenue of $68.1 billion (approximately ¥467.8 billion), representing a year-over-year increase of 73% and a quarter-over-quarter increase of 20% [3][22]. - The company's total revenue for the fiscal year reached $215.9 billion (approximately ¥1,483.1 billion), marking a 65% year-over-year growth [4][25]. Business Segments - The data center segment, which is the core of Nvidia's business, generated $62.3 billion (approximately ¥428 billion) in Q4, reflecting a 75% year-over-year increase and a 22% quarter-over-quarter increase [6][25]. - The annual revenue for the data center segment was $193.7 billion (approximately ¥1,337.9 billion), up 68% year-over-year [6][25]. - The gaming and AI PC segment reported Q4 revenue of $3.7 billion, a 47% year-over-year increase, although it experienced a 13% quarter-over-quarter decline due to seasonal factors [8][27]. - Annual revenue for the gaming and AI PC segment reached a record $16 billion, growing 41% year-over-year [8][27]. - Professional visualization and automotive segments reported quarterly revenues of $1.3 billion and $0.6 billion, respectively, with year-over-year growth of 159% and 6% [8][28]. Profitability Metrics - Nvidia's Q4 gross margin was 75%, an increase of 1.6 percentage points quarter-over-quarter and 2 percentage points year-over-year [10][30]. - The net profit for Q4 was $42.96 billion (approximately ¥29.51 billion), a 94% year-over-year increase and a 35% quarter-over-quarter increase [12][32]. - For the entire fiscal year, net profit reached $120.07 billion (approximately ¥82.48 billion), up 65%, equating to daily earnings of approximately ¥22.6 billion [14][34]. Future Outlook - Nvidia forecasts a record revenue of $78 billion (with a 2% margin of error) for Q1 of fiscal year 2027, representing a 14% quarter-over-quarter increase and a projected 77% year-over-year increase [15][35]. - CEO Jensen Huang expressed optimism for continued revenue growth throughout fiscal year 2026, anticipating opportunities exceeding $500 billion driven by the Blackwell and Rubin platforms [15][36]. - The next-generation platform Rubin is set to launch with six new chips, expected to reduce token costs by 10 times compared to Blackwell, with strong demand anticipated from existing major clients [15][36]. - Huang emphasized the emergence of the "token economy," suggesting that the rise of Agentic AI will significantly increase computational demand, which is crucial for generating revenue [17][38].