Nvidia Q2 results top estimates; unveils $50B stock buyback
Trending Articles- Iranian military drones targeted US Fifth Fleet in Bahrain in response to southern US strikes
- Gold Price Trend Forecast: US-Iran Peace Talks Drive Gold Rebound, Is the Gold Slump Over?
- WTI hovers around $80.00 as traders await developments on US-Iran peace talks
- Gold rises to weekly high as US, Iran reach peace deal
- SpaceX Listing Imminent. Funds Flood Into SpaceX On-Chain Tokens, Bitcoin Rebound Momentum May Be Weakened
- Has Gold Hit Bottom? Barclays, Citi Both Bullish on Gold, Gold Price Will Return to $5,000 Next Year.
Investing.com -- Nvidia reported Wednesday better-than-expected Q2 results, and the chipmaker announced a $50B stock buyback program.
NVIDIA Corporation (NASDAQ:NVDA) fell more than 4% in afterhours following the report.
For the three months ended Jul. 28, the company reported Q2 adjusted earnings of $0.68 a share on revenue of $30.04 billion, beating estimates of $0.64 and $28.68B respectively.
The stronger quarterly results were supported by a 154% surge in data center revenue to $26.27B from the same period a year earlier.
For Q3, revenue is expected to be $32.5B, plus or minus 2%, beating Wall Street estimates of $31.9B.
The company said it approved an additional $50.0B share buyback plan.
The company also said it expected to speed up production of its Blackwell AI chips staring in Q4 and continuing into fiscal 2026.
Nvidia expects to ship "several billion dollars in Blackwell revenue" in Q4, the company said.
Read more
* The content presented above, whether from a third party or not, is considered as general advice only. This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.
