PANews reported on August 29 that according to the financial sector, Nvidia announced its second-quarter financial results as of July 28, 2024. In the second fiscal quarter, the company's revenue reached a record $30.04 billion, exceeding the market expectation of $28.7 billion, a year-on-year increase of 122%; under GAAP rules, net profit increased by 168% year-on-year to $16.6 billion, or $0.67 per share, exceeding market expectations. Among them, the data center business revenue this quarter was $26.3 billion, an increase of 154% over the same period last year, higher than the market expectation of $25.24 billion. Nvidia expects revenue in the third quarter to be approximately $32.5 billion, which will increase by 80% over the same period last year, higher than the average analyst estimate of $31.7 billion. However, the market's highest expectation for Nvidia's third-quarter revenue reached $37.9 billion, raising concerns that its explosive growth is weakening. In addition, Nvidia announced that it has approved a $50 billion stock repurchase plan. Nvidia's U.S. stocks closed down more than 2%, and its stock price rose and then fell after hours, falling more than 8% at one point.