NVIDIA (NVDA) adds $25 billion to share buyback program

In addition, NVIDIA announced it will continue share repurchase throughout its 2024 fiscal year.

Image via NVIDIA

NVIDIA closed out its Q2 2024 in potent fashion, coming out well ahead of estimates on revenue and earnings-per-share (EPS). It would also appear that NVIDIA is using its strong position to invest into share buybacks. The company announced that its Board of Directors has approved an additional $25 billion USD for its share buyback program.

NVIDIA included this detail in its Q2 2024 earnings results, which were posted on its Investor Relations website on August 23, 2023, as well as being reiterated during the Q2 2024 earnings conference call. The part of the earnings results that addresses share buybacks at NVIDIA can be found below:

NVIDIA (NVDA) stock chart in after-hours trading as of August 23, 2023
NVIDIA (NVDA) stock skyrocketed in after-hours trading following release of its Q2 2024 earnings results.

It is blatantly clear that NVIDIA overperformed in its Q2 2024 earnings results, and it seems the company feels highly confident about what’s ahead. In addition to performing well on the quarter, NVIDIA also raised its revenue guidance for Q3 2024. The company’s announced intention to continue share repurchases throughout the fiscal year also seems indicative of this confidence in its continued performance.

With huge investments in GPU and AI technology, NVIDIA doesn’t seem to be in any danger of slowing down anytime soon. Stay tuned for further reporting on it and other companies as further financial reporting and details drop.

Senior News Editor

TJ Denzer is a player and writer with a passion for games that has dominated a lifetime. He found his way to the Shacknews roster in late 2019 and has worked his way to Senior News Editor since. Between news coverage, he also aides notably in livestream projects like the indie game-focused Indie-licious, the Shacknews Stimulus Games, and the Shacknews Dump. You can reach him at tj.denzer@shacknews.com and also find him on Twitter @JohnnyChugs.

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