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NVIDIA said on Wednesday that its board of directors had approved $50 billion worth of stock buybacks.
The computer chip giant announced stock buybacks as part of its fiscal second-quarter earnings, which reported earnings and guidance that topped Wall Street expectations.
As part of the company’s first half of fiscal 2025, Nvidia returned $15.4 billion to shareholders through stock repurposing and cash dividends.
Nvidia said its second-quarter sales increased 122% year-on-year to $30.04 billion, and net profit increased 168% year-on-year to $16.6 billion.
The company said it expected third-quarter sales of about $32.5 billion, above analysts’ expectations of $31.7 billion.
—CNBC’s Kif Leswing contributed reporting
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