Nvidia's earnings were a mixed bag. But the massive share buyback was surprising.

Nvidia ( NVDA -0.53% ) released earnings today, and the market largely shrugged at the results. Shares ended the day flat, falling by a couple of percentage points after hours.

When you look at the top-line numbers, everything appears positive. The company beat analyst expectations for revenue by around $500 million, with sales growing by 56% year over year. But when you dig into the forecast for upcoming quarters, the situation turns more gloomy. That has investors wondering how they should digest another big piece of news released today: A record-breaking $60 billion share buyback program.

Should you be excited about Nvidia's massive share repurchase plan? You might be surprised by the answer.

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