Nvidia Q2 Beat Lifts Asian Markets, IT Mixed
- 27th August 2026
- 10:00 AM
- 2 min read
Summary
Nvidia's second-quarter results beat revenue and earnings estimates, with data-centre revenue up 117% year-on-year. Asian markets including the MSCI Asia Pacific index and South Korea's Kospi rose in early trade. Indian IT stocks, which had gained through the AI-hardware rotation trade, face a mixed read-through from the results.Mumbai | August 27, 2026
Nvidia reported quarterly revenue of USD 96.22 billion, more than double the year-ago quarter and above a consensus estimate of USD 92.17 billion. Earnings per share came in at USD 2.22, ahead of a consensus estimate of USD 2.10. The results lifted sentiment across Asian markets, with the MSCI Asia Pacific index and South Korea’s Kospi rising in early trade.
Data-centre revenue up 117% year-on-year
Nvidia’s data-centre business, its largest, posted revenue of USD 89 billion, up 117% year-on-year and above a consensus estimate of USD 86.33 billion. The company guided for USD 108 billion in revenue for the current quarter, plus or minus 2%, and for revenue growth of around 70% in fiscal 2028.
Semiconductor stocks had weakened before the results
The results follow a period of weakness across global semiconductor stocks. Shares of Micron Technology and SanDisk in the US had fallen as much as 28% over June and July, while South Korea’s Samsung Electronics and SK Hynix had declined 25 to 30%. Fund flow data also pointed to cooling investor positioning: Taiwan-dedicated funds saw two consecutive weeks of outflows for the first time this year, while South Korea recorded outflows of USD 758 million, the highest in three months.
Indian IT index had risen on the rotation trade
The Nifty IT index gained nearly 20% over June and July, as investors rotated away from richer-valued AI hardware stocks and into IT services. Nvidia’s results and guidance mark a fresh data point for that rotation trade, though the report material does not specify a subsequent move in Indian IT stocks.
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