Ambarella Q1 Revenue Edges Past Estimates, Reports Net Loss
AMBA sits 75% above its 52-week low of $48.3 on elevated volume (2.7× avg).
Summary
Ambarella reported Q1 revenue of $100.357 million, a marginal beat against the IBES estimate of $100.1 million. Despite the slight revenue upside, the company posted a net loss of $18.093 million and negative operating income of $19.416 million for the quarter. This follows the anticipated earnings release, with estimates previously set around $100.12 million. The market will weigh the modest revenue beat against the continued unprofitability.
At the time of this announcement, AMBA was trading at $84.57 on NASDAQ in the Technology sector, with a market capitalization of approximately $4B. The 52-week trading range was $48.30 to $96.69. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.