Nvidia Reports Strong Q2 Results, Shares Fall 6%, Announces $50B Buyback

Aug 28, 2024, 08:24 PM

Nvidia reported strong financial results for the second quarter of fiscal year 2025, exceeding market expectations. The company achieved a record quarterly revenue of $30.04 billion, surpassing the anticipated $28.8 billion, marking a 122% increase year-over-year and a 15% rise from the previous quarter. Nvidia's data center revenue was a significant contributor, reaching $26.3 billion, a 154% increase from the previous year and up 16% sequentially. The company's adjusted earnings per share (EPS) stood at $0.68, above the expected $0.64. Despite these positive results, Nvidia shares fell 6%. Nvidia also announced a substantial $50 billion share buyback program. Looking ahead, Nvidia has raised its guidance for the third quarter, forecasting revenue of $32.5 billion, plus or minus 2%, compared to the market estimate of $31.9 billion.