Ambarella swings to Q1 adjusted profit, but sees lower sales in its future [MarketWatch]
Ambarella, Inc. - Ordinary Shares (AMBA)
Last ambarella, inc. - ordinary shares earnings: 3/3 04:05 pm
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investor.ambarella.com/investor-relations
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Source: MarketWatch
Shares of Ambarella Inc. fell more than 5% in the extended session Tuesday after the semiconductor design company swung to an adjusted profit in its fiscal first quarter but called for fiscal second-quarter sales below expectations. Ambarella said it lost $15.5 million, or 45 cents a share, in the quarter, compared with a net loss of $17.3 million, or 53 cents a share, in the year-ago period. Adjusted for one-time items, the company earned $1.3 million, or 4 cents a share, versus an adjusted loss of $100,000, breaking even in a per-share basis, a year ago. Sales rose 16% to $55 million, the company said. Analysts polled by FactSet had expected Ambarella to report an adjusted loss of 27 cents a share on sales of $54 million in the quarter. Ambarella said it expects sales around $50 million for the fiscal second quarter, plus or minus 6%. Operating expenses are seen between $31 million and $33 million, the company said. The analysts surveyed by FactSet expect second-quarter sales around
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AMBA
News
- 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
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AMBA
Earnings
- 2/27/24 - Beat
AMBA
Sec Filings
- 3/29/24 - Form 10-K
- 3/21/24 - Form 4
- 3/20/24 - Form 4
- AMBA's page on the SEC website