Ambarella Q3 EPS $(0.28) Beats $(0.39) Estimate, Sales $50.59M Beat $50.01M Estimate
Portfolio Pulse from Benzinga Newsdesk
Ambarella (NASDAQ:AMBA) reported Q3 earnings with losses of $(0.28) per share, surpassing the $(0.39) estimate, and sales of $50.59M, slightly above the $50.01M estimate. However, these figures represent a significant decrease from the same period last year, with earnings down 216.67% and sales down 39.11%.
November 30, 2023 | 9:22 pm
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NEUTRAL IMPACT
Ambarella reported better-than-expected Q3 losses and a slight sales beat, but with a substantial decrease from the previous year's earnings and sales.
While Ambarella beat the estimates for both EPS and sales, the significant year-over-year decline in earnings and sales may concern investors. The mixed results could lead to neutral short-term price movement as the market digests both the positive beat and the negative year-over-year comparison.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100