ASX 200 Live Today – Friday, 28th August

Welcome to our live ASX coverage for Friday, August 28. Expect a high volume of posts pre-market and more periodic updates throughout the day. We’ll be wrapping the blog up around 2:00 pm AEST. Let us know how we can make it even better.

Reporting season is heating up and we’ve got you covered. Our reporting season calendar has over 250 stocks plus earnings and dividend estimates.

New updates

Nvidia lifts the market: Q2 beats across the board and Q3 guidance above consensus

[8:09 am] Nvidia shares rallied 8.7% higher on another blowout result. It added approximately US$400 billion in market cap from the move, making it the third largest single-day gain by any stock in history.

Here are the key numbers from the Q2 result:

• Revenue up 106% to US$96.2bn vs US$92.2bn ests (4% beat)

• Data Center revenue up 117% to US$89.0bn vs US$85.8bn ests (4% beat)

• Edge Computing revenue up 27% to US$7.2bn vs US$6.61bn ests (9% beat)

• Adjusted gross margin of 75.0% vs 75% ests (in line), up 250bps year on year

• Adjusted operating income up 124% to US$64.0bn, with adjusted opex up 54% to US$8.2bn

• Adjusted net income up 118% to US$54.0bn and adjusted EPS up 120% to US$2.22 vs US$2.10 ests (6% beat)

• Free cash flow of US$21.3bn, with about US$26.0bn returned to shareholders in the quarter and roughly US$99.0bn left on the buyback authorisation

• Q3 revenue guidance of US$108.0bn plus or minus 2% vs US$104.2bn ests (4% beat), with adjusted gross margin guided to 74.0% plus or minus 50bps

Good morning!

[8:04 am] ASX 200 futures are up 12 pts (+0.13%). Here’s what happened overnight:

• Major US benchmarks higher and finished near best levels, though technology was the only one of the 11 S&P 500 sectors to advance

  • S&P 500 (+0.72%), Nasdaq (+1.57%), Dow (+0.20%), Russell 2000 (+0.28%)

• Breadth was weak, with sectors like Discretionary, Healthcare and Staples all down more than 1%, and the Equal-weight S&P 500 down 0.3%

• Nvidia’s guidance for 70% revenue growth in FY28 reset the AI debate, and blowout Salesforce, CrowdStrike and Okta numbers lifted beaten up software names

• Jackson Hole opened with three regional Fed presidents warning on inflation, setting up Kevin Warsh’s first keynote as chair on Friday