Ambarella Inc (AMBA) said after close Thursday that it lost $0.28 per share in quarter three 2024. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $50.6 million, beating estimates by $585 thousand.
In the same quarter a year ago, the company earned $0.24 per share on revenue of $83.1 million.
The stock is down 0.72% to $58.29 after the report.
Ambarella Inc's profit margins took a hit as earnings fell at a faster pace than revenues.
Wall Street Analysts had an average rating of Buy on the stock prior to the report.
InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.
Prior to the report, InvestorsObserver gave the stock an overall score of 38. Meanwhile, the average Wall Street analyst rated the stock a Buy.
Ambarella Inc is a developer of semiconductor processing solutions for high-definition video capture, sharing, and display. The firm's solutions are sold to original design manufacturers and original equipment manufacturers to be designed for use in infrastructure broadcast encoders, wearable device cameras, automotive cameras, and security cameras. Ambarella's system-on-a-chip designs, based on its proprietary technology platform, are highly configurable to applications in various end markets. The firm derives majority of revenue from Taiwan.
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Ambarella Inc Down 0.72% To $58.29 After Earnings Beat
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