Nvidia reported a fourth-quarter adjusted earnings per share (EPS) of 89 cents, surpassing the expected 84 cents. Revenue for the quarter reached $39.33 billion, exceeding estimates of $38.25 billion, with an adjusted gross margin of 73.5%, matching forecasts.

Data centre revenue totalled $35.6 billion, above the expected $34.09 billion. The company anticipates first-quarter revenue of approximately $43 billion, with an adjusted gross margin projected between 70.5% and 71.5%.

Gaming revenue was recorded at $2.5 billion, falling short of the estimated $3.02 billion. The networking segment generated $3.02 billion, less than the forecast of $3.51 billion.

That earnings beat was not a minor one. Profits outpaced analyst forecasts, and revenue followed suit. The adjusted gross margin did not disappoint—it aligned exactly with predictions. These figures paint a clear picture of where the company stands after the latest quarter. But the details matter more than just the overall numbers.

The data centre division, the core engine of the company’s expansion, delivered better-than-expected results. That division alone produced $35.6 billion, comfortably above the market’s anticipated $34.09 billion. It confirms what many already understood—growth in artificial intelligence remains relentless. The demand is not just steady, it is increasing at a rapid pace.

Looking ahead, leadership expects around $43 billion in revenue next quarter. If that materialises, it marks another leap forward. There is confidence in maintaining strong profitability as well, with gross margins projected between 70.5% and 71.5%. These forecasts are not built on optimism alone; they reflect sustained demand from clients who continue to invest in computing power at scale.

However, not every segment performed as well. Gaming revenue disappointed, landing at $2.5 billion when $3.02 billion was expected. The networking segment failed to meet forecasts, bringing in $3.02 billion rather than the projected $3.51 billion. Those areas did not see the same levels of demand growth, and that matters, even if they are not the main drivers anymore.

From this report, two things become clear. Some parts of the business remain strong, while others did not reach expectations. That contrast should not be ignored. In the coming weeks, markets will react in a way that rewards what is working and punishes what is not. It will not be a simple case of rising or falling in one direction. Some areas are thriving, some are lagging, and that division within the business should shape thinking going forward.