Here's Why Ambarella Stock Jumped This Week
Ambarella's (NASDAQ: AMBA) share price spiked by a staggering 30% this week as of Thursday's close after the company reported revenue and earnings for its fiscal second quarter that were far better than Wall Street had expected.
The tech company, which develops semiconductors for HD video compression and image processing, reported non-GAAP earnings of $0.35 per share, a massive jump from the $0.06 per share it earned in the year-ago quarter, and well above analysts' consensus estimate of $0.25 per share. For the period, which ended July 31, Ambarella's revenue rose by an impressive 58% to $79.3 million, topping Wall Street's expectation of $75.7 million.
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Source Fool.com
