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Why Ambarella Stock Just Rocketed 24%

TheMotleyFool

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HD video semiconductor-maker Ambarella (NASDAQ: AMBA) was off to the races in Wednesday trading, with shares rocketing by 24.2% through 12:55 p.m. EDT after management reported a big earnings beat for its fiscal second quarter -- and forecasting that it would deliver another beat in Q3.

Prior to the report, analysts had forecast that Ambarella would earn $0.25 per share on $75.7 million in sales for the period, which ended July 31. In fact, it earned $0.35 per share, and on sales of $79.3 million.

Image source: Getty Images.

Source Fool.com

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