Why Ambarella Stock Rocketed 25% Today

Shares of Ambarella (NASDAQ: AMBA) stock took off like a rocket Wednesday morning after the artificial intelligence company announced a big earnings beat after close of trading Tuesday.

Analysts had forecast that Ambarella would earn only $0.49 per share on sales of $90.4 million for its fiscal third quarter 2021. In fact, Ambarella reported a profit of $0.57 and quarterly sales of $92.2 million -- and Ambarella stock is up 25% in 11:11 a.m. ET trading.  

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Source Fool.com