AMBA Stock Hits 52-Week High on Robust Earnings and Guidance

AMBA stock

AMBA stock is one of the notable winners in Friday’s session after Ambarella Inc (NASDAQ:AMBA) reported Q2 profit and sales that exceeded analyst expectations. The company also provided Q3 revenue guidance above Wall Street projections.

Q2 Results

The company reported a wider net loss of $10.3 million or $0.31 per share in the quarter relative to a net loss of $6.9 million or $0.21 per share last year. Adjusted earnings per share dropped to $0.21 per share compared to last year’s $0.25 per share. Revenue also dropped by 10% to around $56.4 million from a year ...

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