Nvidia Q2 results top estimates; unveils $50B stock buyback
Trending Articles- Gold Price Trend Forecast: Expectations of Easing US-Iran Tensions Boost Gold Prices, $4,070 Becomes Key Level for Bulls and Bears
- Gold rallies to over two-week high, eyes $4,150 as traders track US-Iran diplomacy efforts
- TradingKey Daily Market Brief: Gold Falls Below $4,000, TSMC’s Strong Earnings Fail to Stop AI Trade Cooling, Chip Stocks Sold Off
- Gold Price Forecast: Cooling Inflation Fails to Offset Fed Hawkish Pressure, Gold Price May Fall to $3,500
- Euro declines to near 1.1400 as US launches fresh strikes on Iran
- Tesla Q2 Earnings Preview: Record Deliveries Fail to Hide Profit Pressure, Can Musk Rely on AI and Autonomous Driving to Unlock New Growth Space?
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.
