Nasdaq futures fall, VIX jumps despite Nvidia surpassing Q2, guidance expectations

Nasdaq-100 futures (US100:IND) fell and Wall Street’s key volatility gauge (VIX) climbed late Wednesday as investors dug into Nvidia’s (NVDA) Q2 earnings report that outstripped top-and-bottom line expectations.

Nasdaq-100 futures (US100:IND) were off 2% at 19,196.00, and the S&P VIX (VIX) index jumped 10.9% to 17.11.

Nvidia (NVDA) posted Q2 adjusted EPS of $0.68 on revenue of $30.04B, above analyst targets of $0.68/$28.73B. Data Center revenue climbed, but the growth rate slowed. The company also announced a $50B share buyback plan.

Nvidia (NVDA) slumped 5.5% to $118.70 during Wednesday’s after-hours trade. Seeking Alpha Investing Group Leader Victor Dergunov said investors were likely looking for more out of the company’s results and guidance.

Other companies releasing quarterly results late Wednesday:

Salesforce (CRM), a part of Dow Jones Industrial Average (DJI), +3% after fiscal Q2 results from the cloud computing company topped expectations. It also said CFO Amy Weaver is leaving Salesforce.

Okta (OKTA) -9% with the customer-identity software maker saying it was “factoring a challenging macro environment” with its outlook. Its new full-year fiscal 2025 revenue view was $2.555B-$2.565B vs. consensus estimate of $2.54B.

HP (HPQ) -3.5% after its fiscal Q3 EPS was below Wall Street’s target and as the printer maker lowered its full-year EPS view.

CrowdStrike Holdings (CRWD) -1.1%, with Q2 results above estimates, while the cybersecurity company slightly tweaked its full-year guidance following last month’s global outage.

NetApp (NTAP) raised its full-year guidance but shares -6%.