Nvidia stock gains as Nvidia reports record revenue
Published on 08/10/2026 at 14:32 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Nvidia (US67066G1040) remains a market leader after reporting record quarterly revenue of $26.0 billion for the quarter ended 28 April 2024, up 262% year over year, while diluted EPS reached $5.98 and non-GAAP gross margin was 78.4%. The company also said data center revenue rose to $22.6 billion in that period, a 427% increase from a year earlier.
Revenue up 262%
According to Nvidia's investor relations filing, the quarter ended 28 April 2024 produced $26.0 billion in revenue, compared with $7.19 billion a year earlier. Net income reached $14.9 billion, while diluted EPS rose to $5.98 from $0.82 in the prior-year quarter.
That scale still matters for the stock because the data center business alone generated $22.6 billion in revenue, up from $4.28 billion a year earlier. The operating mix shows how concentrated the growth remains around accelerated computing and AI infrastructure.
Data center drives the number
Nvidia's gross margin of 78.4% on a non-GAAP basis was up from 66.8% in the prior-year quarter, and operating income rose to $16.9 billion from $2.14 billion. Those figures explain why investors keep treating the company as a margin story as much as a growth story.
The comparison is also clear at the segment level: data center revenue of $22.6 billion was more than five times the $4.28 billion reported a year earlier, while gaming revenue was $2.65 billion and professional visualization revenue was $427 million. The company finished the quarter with $26.0 billion in revenue across its businesses.
Guidance stays large
Nvidia guided revenue to $28.0 billion for the next quarter at the time of that report, showing that management expected growth to continue at a very high absolute level. For investors, the main issue is not the existence of growth, but the pace at which those gains can be repeated against a much larger base.
The latest report also framed the business around continued demand for Blackwell and other AI systems, which keeps the product cycle central to the earnings story. That matters because the company is now measured against both record comparisons and the market's expectations for another step-up in chip shipments.
Blackwell matters most
Blackwell is the product family investors watch because Nvidia tied it directly to AI server demand, data center spending, and future revenue visibility in its reporting. The quarter's $22.6 billion data center figure shows why that category remains the main commercial engine.
The same filing said Nvidia ended the quarter with $31.4 billion in cash, cash equivalents, and marketable securities, alongside $9.7 billion in long-term debt. That balance sheet still leaves room for heavy spending while the business scales.
Shares and valuation
The stock trades on Nasdaq under the symbol NVDA, and the company's market capitalization remained above the trillion-dollar threshold in 2024 as the AI cycle accelerated. The scale of the business now means even small percentage changes in growth, margin, or guidance can move expectations quickly.
As a market reference point, Nvidia stock is tied to a company that reported $26.0 billion in quarterly revenue, $14.9 billion in net income, and 78.4% non-GAAP gross margin in the quarter ended 28 April 2024. Those numbers remain the core of the investment case and the main benchmark for any later trading move.
Nvidia facts at a glance
- Company: Nvidia Corporation
- ISIN: US67066G1040
- Ticker: NASDAQ: NVDA
- Trading venue: Nasdaq
- Sector / Industry: Information Technology / Semiconductors
- Index membership: S&P 500, Nasdaq 100
