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.
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.
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replyDonovan Erskine posted a new article, Nvidia (NVDA) increases share buyback to $15 billion through the end of 2023
