Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Ambarella Stock Tanked Today

TheMotleyFool

0 0

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

Like: 0

AMBA

Share