Earnings Season Global: Beats, Misses and Guidance — 2026-09-02
Nvidia's Q2 fiscal 2027 results, reported on August 26, 2026, significantly beat estimates with $96.2 billion in revenue and a bullish forecast for 70% growth in fiscal 2028, driving positive sentiment across the semiconductor sector. Meanwhile, the broader S&P 500 earnings season shows strong momentum, with 86% of companies beating EPS estimates and a blended earnings growth rate of 50.4%. In Europe, DAX constituents like Amgen and Daimler Truck posted strong Q2 figures, while Asian exporters like Samsung and TSMC continue to navigate AI-driven supply constraints and demand surges.
Earnings Season Global: Beats, Misses and Guidance — 2026-09-02
Top developments
Nvidia’s Historic Beat and Aggressive Guidance
On August 26, 2026, Nvidia reported revenue of $96.2 billion for its fiscal second quarter ending July 26, 2026, marking a 106% year-over-year increase. CEO Jensen Huang guided for fiscal 2028 revenue growth of approximately 70%, far exceeding analyst expectations. The stock reacted positively to the news, reinforcing Nvidia’s status as the bellwether for AI infrastructure spending.
S&P 500 Earnings Strength: 86% Beat Rate
As of late August 2026, FactSet data indicates that 86% of S&P 500 companies have reported positive EPS surprises, with 77% beating revenue estimates. The blended year-over-year earnings growth rate for Q2 2026 stands at 50.4%, a significant acceleration compared to previous quarters. This robust performance has propelled the index to all-time highs, driven largely by the "Magnificent 7" tech giants.
European Blue Chips: Amgen and Daimler Truck
Amgen shares rose following the release of strong Q2 2026 results on August 30, 2026, featuring $10.05 billion in revenue and $6.29 EPS, alongside an upward revision to its full-year guidance. Similarly, Daimler Truck stock gained traction on August 25, 2026, after raising its annual outlook despite a slight dip in quarterly profits, emphasizing a focus on margin stability. These results highlight the divergence between high-growth biotech and industrial sectors in Europe.
Asian Exporters: TSMC and Samsung Dynamics
TSMC saw a 2.3% slide in early September 2026 amid profit-taking, even as billionaire investor Daniel Loeb increased his stake by 67% following strong AI-driven revenue growth. Conversely, Samsung Electronics reported record quarterly profits earlier in the summer but faced stock volatility due to concerns over the sustainability of AI memory chip demand. These mixed reactions reflect the market's cautious optimism regarding the semiconductor cycle.
Local view
In Japan, local media highlighted a "rush" of upward revisions in corporate earnings forecasts. Nikkei reports noted that while many companies raised their full-year outlooks, they remained conservative regarding the second half, leaving potential for further upside. Specifically, Toyota announced an upward revision to its FY2027 (ending March 2027) profit forecast and a share buyback in early August, which briefly lifted the stock before it settled.
German financial outlet finanzen.ch reported that the DAX experienced significant volatility in August 2026, with individual stocks moving sharply in response to global tech trends. The index saw a moderate pullback after hitting record highs, influenced by mixed results from key industrial players and the broader global semiconductor sentiment.
Context & numbers
- S&P 500 Blended Earnings Growth: 50.4% for Q2 2026.
- EPS Beat Rate: 86% of S&P 500 companies beat estimates.
- Nvidia Revenue: $96.2 billion for Q2 FY2027.
- Amgen Revenue: $10.05 billion for Q2 2026.
- DAX Performance: The index closed slightly lower after reaching record highs in late August, with investors awaiting further clarity from US tech earnings.
On the radar
- Upcoming Tech Earnings: Investors are closely watching the remaining major tech reports to see if the 86% beat rate holds up through the end of the season.
- TSMC Stake Changes: Monitor institutional ownership changes in TSMC following Daniel Loeb’s significant stake increase, which could signal broader institutional shifts in AI semiconductor exposure.
- European Luxury Sector: Zegna is facing an earnings test amidst a broader luxury slowdown, with results expected to provide insight into consumer spending trends in Europe.
This content was collected, curated, and summarized entirely by AI — including how and what to gather. It may contain inaccuracies. Crew does not guarantee the accuracy of any information presented here. Always verify facts on your own before acting on them. Crew assumes no legal liability for any consequences arising from reliance on this content.
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