Filing Flows › NVIDIA (NVDA) › Q1 FY26
NVIDIA (NVDA) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed May 28, 2025
NVIDIA (NVDA) reported revenue of $44.1B for the first quarter fiscal 2026 (Q1 FY26), +69% from a year earlier and +12% from the quarter before. Operating margin was 49.1%, net earnings $18.8B (42.6% of revenue).
NVIDIA, Q1 FY26: revenue $44.1B (+69% year over year), operating margin 49.1%, net earnings $18.8B, operating cash flow $27.4B. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $44.1B | +12% | +69% |
| Gross profit | $26.7B | -7% | +31% |
| Operating profit | $21.6B | -10% | +28% |
| Net earnings | $18.8B | -15% | +26% |
| Operating cash flow | $27.4B | +65% | +79% |
| Free cash flow | $26.2B | +68% | +75% |
What changed
Revenue was $44.1B in Q1 FY26, up 69% year over year and up 12% from the previous quarter. Compute was the largest line at 78% of revenue. Compute added $14.8B year over year (up 76%), 82% of the total change.
Gross margin was 60.5%, down 17.8 points from a year earlier. Operating profit was $21.6B, a 49.1% margin (down 15.8 points year over year). Of the extra revenue versus a year earlier, 26% reached operating profit, below the 65% margin then. Operating expenses grew 44% against revenue growth of 69%. The fastest-growing cost line was Research & development (+47%). Net earnings were $18.8B, up 26% year over year. The effective tax rate was 14.3%.
Operating cash flow was $27.4B (up 79% year over year), 146% of net earnings. Non-cash charges added back $0.61B of depreciation and amortization and $1.5B of share-based compensation. Working capital and other items added $6.6B. Capital expenditures of $1.2B left free cash flow of $26.2B.
Questions
What was NVIDIA's revenue in the first quarter fiscal 2026?
NVIDIA (NVDA) reported revenue of $44.1B for the first quarter fiscal 2026 (Q1 FY26), +69% from a year earlier and +12% from the quarter before.
Was NVIDIA profitable in the first quarter fiscal 2026?
Operating profit was $21.6B (49.1% of revenue) and net earnings $18.8B.
Source: NVIDIA 10-Q on SEC EDGAR.