Following a decline in U.S. after-hours trading, the shares of Nvidia fell 7% in Frankfurt on Thursday. This was due to the AI-bellwether’s quarterly predictions falling short of investors’ high expectations, which had spurred a massive rise in the stock.
Although the revenue and gross margin projections for the current quarter fell short of analysts’ estimates, they did not meet Wall Street’s expectations as much as they had in the past.
That overshadowed the announcement of a $50 billion share buyback as well as a beat on second-quarter revenue and adjusted earnings.
Although Nvidia’s shares closed the regular trading session on Wednesday down 2.1%, they have still increased by around 150% this year.
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