Nvidia Q2 earnings beat lifts global markets overnight

Nvidia ↗ 2.78% delivered a fiscal second-quarter earnings beat on Wednesday that rippled across global markets overnight, pushing U.S. equity futures higher and lifting Asian indexes on Thursday. The chipmaker reported adjusted earnings per share of $2.22 on revenue of $96.2 billion, topping Wall Street expectations of $2.09 EPS on $92.3 billion in revenue. The company guided third-quarter revenue to a range of $105.8 billion to $110.1 billion, also ahead of consensus estimates.finance.yahoo+2

Global Markets Rally on AI Optimism

Nvidia's results, which marked its 15th consecutive quarterly beat, sent its shares up roughly 4.7% in after-hours trading and lifted S&P 500 futures by 0.48% and Nasdaq futures by 0.83% overnight. Management projected roughly 70% revenue growth in fiscal year 2028, beginning January 2027, reinforcing confidence that AI-driven demand for semiconductors would persist.fxstreet+2

The positive sentiment carried into Asia on Thursday. South Korea's Kospi closed up 104.16 points, or 1.53%, at 6,912.37, marking its third consecutive daily gain. Samsung Electronics added 1.72% and SK hynix ↗ 2.78% rose 2.49% as semiconductor-linked shares led gains. China's CSI 300 and Shanghai Composite also traded higher, though Hong Kong's Hang Seng drifted lower.koreajoongangdaily+1

Bank of Korea Rate Hike Tempers Seoul Gains

The Kospi trimmed earlier gains of more than 2% after the Bank of Korea raised its base rate by a quarter percentage point to 3%, its second consecutive hike. BOK Governor Shin Hyun-song called the move a "pre-emptive, proactive and advanced" response to inflation risks but stressed the economy maintained solid growth driven by semiconductor exports.koreajoongangdaily

"The market was a seesaw game between the earnings release from Nvidia and the BOK's monetary policy board meeting," Lee Kyoung-min of Daishin Securities told the Korea JoongAng Daily.koreajoongangdaily

Analysts See Bigger Picture Beyond the Beat

Ahead of the results, Bank of America analyst Vivek Arya had reiterated a Buy rating with a $350 price target, arguing the most important catalyst would be what Nvidia communicated about its off-balance-sheet financial commitments and capital return plans rather than the beat itself. Deutsche Bank strategists noted the earnings were accompanied by a "bullish medium-term outlook" from management and that encouraging results from Salesforce ↘ 3.94% and CrowdStrike ↘ 0.14% further bolstered the tech mood.gurufocus+1

The won strengthened 3.9 against the dollar to close at 1,380.9, while battery stocks surged in Seoul on energy storage momentum, with LG Energy Solution jumping 5.56%.koreajoongangdaily