NVIDIA reported $46.74 billion in revenue for the quarter to Jul 27, 2025, up 55.6% on the year

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

NVIDIA filed its 10-Q, the quarterly report US-listed companies file with the SEC, on Aug 27, 2025, for the quarter from Apr 28 to Jul 27, 2025. Revenue was $46.74 billion, up 55.6% from $30.04 billion a year earlier and up 6% from $44.06 billion in the quarter before. Data Center revenue was $41.1 billion, up 56.4% on the year, while compute revenue within it fell 1% from the quarter before, which the company tied to a $4.0 billion drop in H20 sales. Operating income was $28.44 billion against $18.64 billion a year earlier, and net income $26.42 billion against $16.6 billion.1^,2^,3^,4^,5^,6^,7^,8^,9^,10^,11^,12^,13

Net income also reflects investment gains: the 10-Q said the change in other income, net, against the same quarter a year earlier came mainly from unrealized gains on NVIDIA's publicly-held equity securities. Net unrealized gains on those securities held at period end were $1.9 billion for the quarter, against $132 million a year earlier.14^,15^,16

Gaming revenue was $4.29 billion, against $2.88 billion a year earlier, a rise of 48.9%. The 10-Q said it rose 14% from the previous quarter, with strong sales and increased supply of the Blackwell product. In its earnings release, filed the same day, NVIDIA said the GeForce RTX 5060 became its fastest-ramping x60-class GPU ever and that DLSS 4 was in over 175 games and apps, with Borderlands 4, Resident Evil Requiem and Phantom Blade Zero named as coming next. It also said Blackwell was coming to GeForce NOW, the game streaming service in NVIDIA's Graphics segment, with an Install-to-Play feature it said would double the game library to over 4,500 titles.17^,18^,19^,20^,21^,22^,23^,24^,25

The 10-Q recalled that the US government told NVIDIA in April 2025 that exports of its H20 product to China required a license, and that NVIDIA took a $4.5 billion charge in the first quarter for H20 excess inventory and purchase obligations. In the second quarter NVIDIA said it recognized approximately $650 million of H20 revenue from sales to an unrestricted customer outside China; those sales resulted in a $180 million release of previously reserved H20 inventory. It said there were no H20 sales to China-based customers in the quarter. In August 2025 the US government granted licenses that would allow certain H20 shipments to China-based customers, but NVIDIA said it had not generated revenue or shipped H20 products under them. At the time, NVIDIA's outlook for the third quarter was revenue of $54.0 billion, plus or minus 2%, with no H20 shipments to China assumed.26^,27^,28^,29^,30

We hold the text of the 10-Q's management discussion and the notes to its financial statements, and no other part of the filing. Our records keep one value for each period of an SEC filer, the latest filed, so they cannot show whether the year-earlier figures here were restated.31^,32