Ambarella stock rallies after surprise Q1 adjusted profit [MarketWatch]
Ambarella, Inc. - Ordinary Shares (AMBA)
Last ambarella, inc. - ordinary shares earnings: 3/3 04:05 pm
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Source: MarketWatch
Ambarella stock rallies after surprise Q1 adjusted profit Shares of Ambarella Inc. AMBA, +4.30% rose more than 7% in the extended session Tuesday after the Silicon Valley company, a maker of components for cameras and a supplier for GoPro Inc., swung to a surprise adjusted profit in the fiscal 2020 first quarter. Ambarella said it lost $17.3 million, or 53 cents a share, in the quarter, compared with a loss of $10 million, or 30 cents a share, in the same year-ago period. Adjusted for one-time items, the company earned $300,000, or a penny a share, compared with earnings of $4.5 million, or 13 cents a share, a year ago. Revenue fell 17% to $47.2 million, compared with $56.9 million a year ago. Analysts polled by FactSet had expected an adjusted loss of 55 cents a share on sales of $47 million. Ambarella had ended the regular trading session up 4.3%. The company guided for revenue between $51 million and $53 million for the second quarter.
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News
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- Ambarella, Inc. (NASDAQ: AMBA) was upgraded by analysts at StockNews.com to a "sell" rating.MarketBeat
- Ambarella, Inc. (NASDAQ: AMBA) had its price target lowered by analysts at Bank of America Co. from $62.00 to $50.00. They now have an "underperform" rating on the stock.MarketBeat
- Ambarella, Inc. (NASDAQ: AMBA) was upgraded by analysts at StockNews.com to a "sell" rating.MarketBeat
- SANY Accelerates Transition to Clean Energy in The Industry 4.0 Era with Intelligent and Low-Carbon Development StrategyPR Newswire
AMBA
Earnings
- 2/27/24 - Beat
AMBA
Sec Filings
- 5/3/24 - Form ARS
- 5/3/24 - Form DEFA14A
- 5/3/24 - Form DEF
- AMBA's page on the SEC website