Ambarella Shares Fall As 'Cyclical Headwinds Persist'
Portfolio Pulse from Adam Eckert
Ambarella Inc (NASDAQ: AMBA) shares fell in after-hours trading following a weak Q2 forecast. The company reported Q1 revenue of $62.14 million, slightly beating estimates, and a quarterly loss of 15 cents per share. Revenues were down 31% YoY, and margins decreased to 60.4% from 62.6% YoY. Ambarella expects Q2 revenue to be between $60 million and $64 million, lower than the estimated $67.17 million.
May 30, 2023 | 8:39 pm
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Ambarella shares fell after weak Q2 forecast, despite slightly beating Q1 revenue estimates. Revenues were down 31% YoY, and margins decreased to 60.4% from 62.6% YoY.
Ambarella's weak Q2 forecast is the primary reason for the negative impact on its stock price. Despite beating Q1 revenue estimates, the company's revenues were down 31% YoY, and margins decreased to 60.4% from 62.6% YoY. This indicates that the company is facing challenges in its business, which could negatively affect its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100