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Nvidia (NVDA) increases share buyback to $15 billion through the end of 2023

In its Q1 2023 earnings report, Nvidia (NVDA) announced an increase to its share repurchase program.

Donovan Erskine

May 25, 2022 2:07 PM

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Nvidia’s (NVDA) Q1 2023 earnings report broke down how the gaming technology company has financially performed over the latest quarter. In addition to a look at recent performance, the report also took a look at the company’s future plans. It was here that Nvidia revealed its plans to increase its share buyback program to $15 billion through 2023.

Nvidia’s (NVDA) Q1 2023 earnings report was released on May 25, 2022. In the report, the tech company gives an update on its share repurchase program. “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.

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. 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.

Nvidia CEO Jensen Huang also provided a statement about Nvidia’s upcoming product offerings in the report.

Nvidia’s (NVDA) bolstering of its buyback program could spell out good news for the company and shareholders alike. Stick with us as we continue to follow the latest developments with the company. Also, make Shacknews your go-to destination for financial news as it relates to the tech and gaming industries.

Donovan Erskine

News Editor

Donovan is a young journalist from Maryland, who likes to game. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge Scream nerd and film fanatic that will talk with you about movies and games all day. You can follow him on twitter @Donimals_