Published , by TJ Denzer
Published , by TJ Denzer
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:
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.