Opkøbet omfatter 68 millioner aktier, og er en del at en større og mere fremsigtet plan.
“Our Q2 financial performance was disappointing. The desktop PC market around the world weakened during the quarter. And our miscalculation of competitive price position further pressured our desktop GPU business. We have a great product line-up and, having taken the necessary pricing actions, we are strongly positioned again. Our focus now is to drive cost improvements and to further enhance our competitiveness through the many exciting initiatives we have planned for the rest of the year,” said Jen-Hsun Huang, president and CEO of NVIDIA. “In contrast, the rest of our businesses did not exhibit the same dynamics as our desktop business. The notebook GPU, MCP, and Professional Solutions groups grew a combined 27 percent year-over year.”
Mr. Huang added, “Though we approach the near term with caution, we remain very optimistic about the expanding universe of visual computing and the exciting growth opportunities made possible by CUDA, our general purpose parallel computing architecture.”
NVIDIA also announced an increase of $1 billion to its stock repurchase programme under which it may now purchase up to $2.7 billion of its common stock. Through July 27, 2008, NVIDIA has repurchased 68.0 million shares under the stock repurchase programme for a total cost of $1.16 billion.
The repurchases will be made in the open market, in privately negotiated transactions, or in structured share repurchase programmes, and may be made from time to time or in one or more larger repurchases. The programme will be conducted in compliance with the Securities and Exchange Commission’s Rule 10b-18 and applicable legal requirements and shall be subject to market conditions and other factors.
The programme does not obligate NVIDIA to acquire any particular amount of common stock and the programme may be modified or suspended at any time at the Company's discretion. The purchases will be funded from available working capital.
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