Nvidia's Revenue Exceeds Expectations Amid Stock Buyback Announcement

According to BlockBeats, Nvidia reported a revenue of $46.7 billion for the second quarter of its fiscal year 2026, surpassing market expectations of $46 billion. The company also approved an additional $60 billion stock buyback. Nvidia provided a modest revenue forecast of $54 billion, with a 2% variance for the third fiscal quarter, compared to market expectations of $53.46 billion. This has raised concerns about a potential slowdown in spending within the artificial intelligence sector. Following the earnings report, Nvidia's stock initially fell by 5% in after-hours trading and is currently down by 3.14%. This pattern is typical for Nvidia's earnings announcements, where stock prices often rise before and during trading hours based on expectations, but fall if results do not significantly exceed those expectations. The decline in Nvidia's stock has also impacted the cryptocurrency market. Bitcoin dropped by 1.25%, briefly falling below $111,000, and is currently priced at $111,405. Ethereum also experienced a decline, reaching $4,482 at one point and is now at $4,513, showing slightly weaker performance compared to Bitcoin.