Nvidia Earnings: Why the Stock Is Dropping on Strong Q2 Results ...

Nvidia's second-quarter results and guidance for the current quarter surpassed Wall Street's expectations.

Companies are clamoring for the company's chips, with revenue from Nvidia's AI data center segment more than doubling in the period.

Shares are down, however. With the company’s stock up more than 150% this year—it is the S&P 500's top performer—investors may have wanted more.

EPS: Up 152% to 68 cents vs. 65 cents expected, according to FactSet.

Revenue: Up 122% to $30 billion vs. $28.7 billion expected.

Current-quarter outlook: Revenue of $32.5 billion at the midpoint vs. $31.7 billion expected.

Share buyback: The company raised the size of its program by $50 billion.

Stock reaction: Shares are down in after-hours trading. They closed 2.1% lower on Wednesday.