Why Ambarella Is Down More Than 30% Today
Shares of Ambarella (NASDAQ: AMBA) are down 30.4% as of 11:57 a.m. ET Tuesday following Monday's post-close release of its fiscal fourth-quarter results. While earnings topped estimates, guidance for the quarter now underway was disappointing.
For the three-month stretch ending in January, Ambarella turned $90.2 million worth of revenue into an operating profit of $0.45 per share. Both compare favorably to the year-ago figures of $62.1 million and $0.14 per share, and earnings topped analysts' expectations of $0.42 per share. Sales merely met expectations, though, and the company's outlook for fiscal Q1 is a letdown.
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Source Fool.com
