NVIDIA reported revenue of $44.1 billion for the first quarter of fiscal 2026, ended 27 April 2025, up 12% from the previous quarter and 69% from a year ago, NVIDIA said on 28 May 2025.
NVIDIA said it incurred a $4.5 billion charge in the quarter for H20 excess inventory and purchase obligations, after being told a licence is required to export H20 products to China. It was unable to ship an additional $2.5 billion of H20 revenue.
GAAP and non-GAAP gross margins were 60.5% and 61.0%. Excluding the charge, non-GAAP gross margin would have been 71.3%. GAAP and non-GAAP earnings per diluted share were $0.76 and $0.81.
Jensen Huang, founder and CEO of NVIDIA, said Blackwell NVL72 is now in full-scale production across system makers and cloud service providers. He said: "Global demand for NVIDIA's AI infrastructure is incredibly strong."