Nvidia continues to lose with results and forecasts above expectations and buyback

Nvidia shares were down nearly 4% in after-market trading after falling 2.1% during normal trading hours.

The company reported 68 cents of adjusted net income in Q2, compared to analysts’ expectations of 64 cents. The company’s revenue rose 122% year over year to $30.04 billion. The market expected $28.7 billion.

Management said it expects revenue of $32.5 billion this quarter, compared with analysts’ expectations of $31.77 billion.

Nvidia has been a major beneficiary of the AI ​​boom. Its market capitalization has increased more than ninefold since the end of 2022. It has increased by 34 percent since the previous quarterly report.