Nvidia slips even as Q2 results, guidance top expectations; unveils $50B buyback

Nvidia (NASDAQ:NVDA) shares fell 4.5% in extended hours trading on Wednesday, even as the semiconductor giant reported fiscal second-quarter results and guidance that topped expectations.

Looking to the third-quarter of fiscal 2025, Nvidia expects to generate $32.5B in revenue, plus or minus 2%. Analysts were forecasting $31.71B in revenue for the Jensen Huang-led company.

For the period ending July 28, Nvidia said it earned $0.68 per share on an adjusted basis as revenue grew 122% year-over-year to come in at $30B.

Data center revenue flew past expectations, coming in at $26.3B, compared to estimates of $25.08B. Automotive revenue for the period clocked in at $346M, while professional visualization revenue rose 20% year-over-year to $454M. Adjusted gross margin came in at 75.7% for the quarter.

Analysts were expecting the company to earn $0.64 per share on $28.73B in revenue during the second quarter.

“Hopper demand remains strong, and the anticipation for Blackwell is incredible,” CEO Jensen Huang said in a statement. “NVIDIA achieved record revenues as global data centers are in full throttle to modernize the entire computing stack with accelerated computing and generative AI.”

Huang added that Blackwell samples are shipping to partners after some concerns over delays.

Shares of other semiconductor companies, including AMD (AMD), ARM (ARM), ASML (ASML), Taiwan Semiconductor (TSM) and Intel (INTC) moved lower in after-hours trading following the results and guidance. Super Micro Computer (SMCI) also fell following Nvidia’s results.

In conjunction with the results, Nvidia announced a $50B share buyback program. At the end of the quarter, Nvidia had $7.5B left on its previous share repurchase authorization.

The company will hold a conference call at 5 p.m. EST to discuss the results.