BlockBeats reported that on August 28, NVIDIA (NVDA.O) recorded Q2 revenue of $46.7 billion for the fiscal year 2026, with market expectations at $46 billion. In addition, the company also approved an additional $60 billion stock repurchase. NVIDIA provided a bland outlook for Q3 revenue of $54 billion, with a 2% fluctuation, while the market expectation was $53.46 billion, raising concerns about the slowdown in massive spending growth in the artificial intelligence sector.
After the earnings report was released, NVIDIA's stock briefly fell by 5% in after-hours trading, currently down 3.14%. This situation is a common occurrence during 'NVIDIA earnings report night,' where market participants typically gamble based on earnings expectations, leading to a rise in stock prices before and during the trading day. If the earnings report falls short of expectations, it causes a decline, while a slight beat is viewed as 'profit-taking,' also leading to a drop in stock price.
Affected by the decline in NVIDIA's stock price, Bitcoin fell by 1.25%, briefly dropping below $111,000, currently reported at $111,405. ETH once dropped to $4,482, currently reported at $4,513, showing slightly weaker performance compared to Bitcoin.