Nvidia Just Crushed Q3 Earnings: Why This $65B Guidance Changes Everything

If you were worried that the AI trade was getting tired... wake up.

NVIDIA just dropped their Q3 FY26 numbers and they didn't just beat expectations... they completely obliterated the "demand cliff" thesis. The bears were betting on an air pocket—a pause in orders while customers waited for the new Blackwell chips.

Instead? We got $57.01B in revenue against a $54.60B consensus. That is a 4.4% beat on the top line with a massive re-acceleration in growth.

But the real story isn't what they just did... it's what they are about to do. The guidance for next quarter is absolutely bananas, and it tells me the AI infrastructure build-out is still in the early innings.

If you're new to my analysis process, I use a specific framework to filter noise and ignore the hype. I look for very specific signals in the numbers... check out my 10x Stock Checklist: My Exact 47-Point Analysis Framework.

This is the question everyone was asking. Can a company this size really keep growing at hyper-speed?

The answer is a hard yes.

Revenue clocked in at $57.01B, which is +62.5% YoY. But what caught my eye was the sequential acceleration. We are seeing +22% growth QoQ. For a company generating fifty billion dollars a quarter, growing that fast sequentially is mathematically absurd.

Let's look at the engine room: Data Center revenue hit $51.2B. That is a 112% increase YoY (estimated).

The street was nervous that the transition from the "Hopper" chips to the new "Blackwell" architecture would cause a slowdown. The bears thought big tech would pause spending to wait for the shiny new toy.

This report proves that wrong. Customers are buying everything Jensen can manufacture. The backlog isn't shrinking... it's expanding.

Growth is vanity, profit is sanity. And in Q2, we saw a little dip in margins that spooked the market.

Investors were worried that manufacturing costs for the complex Blackwell chips were going to eat into profitability. In Q2, margins compressed to around 72.7%.

Fast forward to today... Gross Margins bounced back to 73.6% (Non-GAAP).

But here is the kicker... look at the guidance. Management is forecasting margins to expand again to 75.0% (±50bps) in Q4.

This is textbook Operating Leverage. As revenue scales up, their fixed costs stay relatively flat, and that money flows straight to the bottom line. We are looking at a company that is printing a Net Income of $31.77B in a single quarter.

They aren't just growing sales... they are becoming more efficient while they do it.

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I don't just wait for earnings to find stocks like this. I look for specific momentum signals before the report drops. I spot these setups using the screener on TradingView. Here is exactly how I found this setup:

• Filter 1: Revenue Growth > 20% (I want to see companies that are already sprinting).
• Filter 2: Net Income Margin > 15% (I avoid unprofitable trash... I want cash flow monsters).
• Filter 3: Relative Volume > 1.5 (This shows me that big institutions are quietly accumulating shares before the news hits).

If you want to run these screens yourself and catch the next runner early, grab a free trial here: TradingView Screener.

It sounds crazy to ask if a trillion-dollar company can 10x... but we have to look at the Total Addressable Market (TAM).

The most bullish signal in the earnings call was Jensen discussing "Agentic AI."

Up until now, most AI spend has been on "Training" (teaching the models). That is CapEx heavy. But Jensen noted a shift toward "Inference" and "Agentic Applications"... meaning AI that actually does things for businesses, not just writes poems.

This shifts the market from a one-time hardware build to a utility-like consumption model.

With the Q4 revenue guidance raised to $65B (vs. $59.6B expected), the innovation velocity is outpacing the competition. By the time AMD or Intel catches up to Hopper... NVIDIA is already shipping Blackwell Ultra.

Their moat isn't just the chip... it's the speed of iteration. They are running a hardware company with the agility of a software startup.

I'm bullish, but we have to be realistic. Here is what could break the thesis:

1. Geopolitics: A significant portion of revenue is still tied to global supply chains. Any new, stricter export controls to China could chop 5-10% off the top line overnight.
2. The Law of Large Numbers: Growing at 60% is easy at $1B revenue. It is defying gravity at $60B revenue. Eventually, the math wins and growth must slow down mathematically.
3. Power Constraints: The bottleneck right now isn't chips... it's electricity. If data centers can't get enough power to run these clusters, orders will get pushed out.

This was a "drop the mic" quarter. The guidance raise of $5.4B is the strongest signal possible that the AI supercycle is not slowing down.

With margins expanding back to 75% and the Blackwell cycle fully priced into Q4 guidance, this stock is screaming "Buy."

Verdict: Rocket Ship 🚀

Before you buy, make sure this passes the full sniff test for your specific portfolio. You can download my 10x Stock Checklist here to run the full audit yourself.