U.S. chip giant Nvidia on Wednesday reported record revenue of 57 billion U.S. dollars for the third quarter of fiscal year 2026 ended Oct. 26, 2025, marking a 22-percent increase from the previous quarter and a 62-percent rise compared to the same period last year.

Nvidia's quarterly net income was 31.9 billion dollars, up 21 percent from the second quarter and up 65 percent year over year.

Generally accepted accounting principles (GAAP) earnings per diluted share were 1.3 dollars, up 20 percent from the previous quarter and up 67 percent from a year ago. Non-GAAP earnings per diluted share were 1.3 dollars, up 24 percent from the previous quarter and up 60 percent from a year ago, said Nvidia.

For the quarter, GAAP and non-GAAP gross margins were 73.4 percent and 73.6 percent, respectively.

"Blackwell sales are off the charts, and cloud GPUs are sold out," said Jensen Huang, founder and CEO of Nvidia. "Compute demand keeps accelerating and compounding across training and inference -- each growing exponentially."

"We've entered the virtuous cycle of AI. The AI ecosystem is scaling fast -- with more new foundation model makers, more AI startups, across more industries, and in more countries. AI is going everywhere, doing everything, all at once," he said.

Nvidia's outlook for revenue in the fourth quarter of its fiscal year 2026 is 65 billion dollars, plus or minus 2 percent. Its GAAP and non-GAAP gross margins are expected to be 74.8 percent and 75 percent for the fourth quarter, respectively, plus or minus 50 basis points.