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Nvidia's Q2 Revenue Beats Expectations, Drops 5% in After-Hours Trading; Bitcoin Slides 1.25%, briefly dipping below $111,000
BlockBeats News, August 28th, NVIDIA (NVDA.O) reported a revenue of $46.7 billion for the second quarter of its 2026 fiscal year, beating market expectations of $46 billion. Additionally, the company approved an additional $60 billion stock repurchase. NVIDIA provided a flat outlook for the third quarter revenue at $54 billion, fluctuating up or down by 2%, compared to market expectations of $53.46 billion. This has raised concerns in the market about the slowdown in the high spending growth rate in the field of artificial intelligence.
After the financial report was released, NVIDIA's stock initially fell by 5% in after-hours trading, now down by 3.14%. This situation is a common occurrence during "NVIDIA Earnings Nights," where market participants typically speculate based on earnings expectations. This can lead to pre-market and intraday price increases based on expectations, followed by a decline if the results are below expectations. A slight outperformance is seen as "profit-taking," which also leads to a price drop.
Due to the decline in NVIDIA's stock price, Bitcoin fell by 1.25%, briefly dropping below $111,000, and is now trading at $111,405. Ethereum (ETH) briefly dropped to $4,482 and is now at $4,513, showing some relative weakness compared to Bitcoin.
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