Moreover, the company underscored that it has ample means to effectively navigate economic downturns, as demonstrated through the recessions of 20.Īlso, this is the wrong time to judge a tech company, when looking at the near-term concerns. Also, make Shacknews your go-to destination for financial news as it relates to the tech and gaming industries.Nonetheless, management commentary during the FQ1 earnings call indicates sustained demand and solid levels of engagement. Stick with us as we continue to follow the latest developments with the company. Nvidia’s (NVDA) bolstering of its buyback program could spell out good news for the company and shareholders alike. Our new chips and systems will greatly advance AI, graphics, Omniverse, self-driving cars and robotics, as well as the many industries these technologies impact. We are gearing up for the largest wave of new products in our history with new GPU, CPU, DPU and robotics processors ramping in the second half.
Nvidia CEO Jensen Huang also provided a statement about Nvidia’s upcoming product offerings in the report. Following the release of the earnings report, Nvidia (NVDA) stock saw a sharp drop in after-hours trading, hitting a low of $153.42 before it began to climb back up. With Nvidia looking to gobble back up so much of its own stock, it will be interesting to see how the company’s share value is impacted.
“On May 23, 2022, the board of directors increased and extended the company’s share repurchase program to repurchase additional common stock up to a total of $15 billion through December 2023.” Nvidia had already been buying back its own stock, but will boost those efforts over the next year.
In the report, the tech company gives an update on its share repurchase program. Nvidia’s (NVDA) Q1 2023 earnings report was released on May 25, 2022. It was here that Nvidia revealed its plans to increase its share buyback program to $15 billion through 2023. In addition to a look at recent performance, the report also took a look at the company’s future plans. Nvidia’s (NVDA) Q1 2023 earnings report broke down how the gaming technology company has financially performed over the latest quarter.
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