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Why Ambarella Stock Tanked Today

TheMotleyFool

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Shares of Ambarella (NASDAQ: AMBA) have tanked today, down by 11% as of 1:45 p.m. EDT, after the company reported fiscal first-quarter earnings. The results beat expectations but guidance left a little to be desired.

Revenue in the fiscal first quarter came in at $54.6 million, slightly ahead of the $54 million in sales that analysts were modeling for. That translated into adjusted net income of $1.3 million, or $0.04 per share. Wall Street was expecting the video-processing chipmaker to post an adjusted net loss of $0.27 per share.

Image source: Getty Images.

Source Fool.com

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