Ambarella Inc (NASDAQ:AMBA) shares are diving on Friday after the company released its first‑quarter results and paired them with second‑quarter sales guidance that landed below Wall Street expectations at the midpoint. Here’s what you should know.
Ambarella stock is showing notable weakness. What’s behind AMBA decline?
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Q1 Results Top Estimates
Ambarella reported earnings of 11 cents per share, edging past the 10 cent consensus estimate and improving sharply from the 7 cents it posted a year earlier. Revenue for the quarter came in at nearly $100.36 million, slightly above the approximately $100.14 million analysts were looking for and up nearly 17% from the same period last year. The company's official release from Santa Clara noted that total revenue for the quarter was $100.4 million.
