Nvidia said Wednesday that its board of directors has approved a $50 billion stock buyback.
The computer chip giant announced the share repurchase as part of its fiscal second quarter earnings, in which it reported earnings and guidance that surpassed Wall Street expectations.
Nvidia returned $15.4 billion to shareholders in share repurposes and cash dividends as part of the company’s first half of its fiscal year 2025. The company said it had $7.5 billion remaining under its share repurchase plan, as of the end of its fiscal second quarter.
Second quarter sales rose 122% year-over-year to $30.04 billion, while net income jumped 168% year-over-year to $16.6 billion, Nvidia said.
The company said that it projects roughly $32.5 billion in third-quarter sales, topping analyst estimates of $31.7 billion.
–CNBC’s Kif Leswing contributed reporting
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