Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Reportable Segments
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Operating Profit Margin since 2005
- Current Ratio since 2005
- Price to Book Value (P/BV) since 2005
- Price to Sales (P/S) since 2005
- Aggregate Accruals
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NVIDIA Corp., consolidated income statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-04-26), 10-K (reporting date: 2026-01-25), 10-Q (reporting date: 2025-10-26), 10-Q (reporting date: 2025-07-27), 10-Q (reporting date: 2025-04-27), 10-K (reporting date: 2025-01-26), 10-Q (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-25), 10-Q (reporting date: 2020-07-26), 10-Q (reporting date: 2020-04-26).
The financial trajectory from April 2020 through April 2026 is characterized by an unprecedented acceleration in top-line growth and bottom-line profitability, with a distinct inflection point occurring in mid-2023.
- Revenue Growth Trends
- Revenue exhibited a steady increase from April 2020 ($3.08 billion) through early 2023. However, a period of exponential growth began in July 2023, where quarterly revenue jumped to $13.51 billion and continued a steep upward climb, eventually reaching $81.62 billion by April 2026. This represents a massive expansion in market scale over a six-year period.
- Gross Profitability and Margin Expansion
- Gross profit followed the revenue surge, rising from $2.00 billion in April 2020 to $61.16 billion in April 2026. The scaling of gross profit significantly outpaced the growth of the cost of revenue in the later periods, indicating substantial improvements in production efficiency or increased pricing power.
- Operating Expense Management
- Operating expenses grew at a far slower rate than revenue, demonstrating strong operating leverage. Research and development costs increased from $735 million to $6.32 billion, and sales, general, and administrative expenses rose from $293 million to $1.30 billion. Because these costs did not scale linearly with revenue, a larger percentage of each dollar earned contributed directly to operating income.
- Operating Income and Net Profitability
- Operating income transitioned from $976 million in April 2020 to $53.54 billion in April 2026. Net income mirrored this trend, growing from $917 million to $58.32 billion. A notable acceleration is observed in the final four quarters of the period, where net income figures saw substantial increases.
- Non-Operating Items and Tax Impact
- Interest income showed a consistent upward trend, reflecting a growing cash position. Significant volatility is observed in "Other income (expense), net," particularly in the final two quarters of the analysis, where figures spiked to $15.93 billion and $16.37 billion, respectively, contributing heavily to the final net income results. Income tax expenses also increased proportionally with the growth in pre-tax income, reaching $11.58 billion in the final quarter.