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Nov. 23, 2020, 4:55 p.m. EST

Ambarella stock rises on better-than-expected results, outlook

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By Wallace Witkowski

AMBA

Ambarella Inc. /zigman2/quotes/207997433/composite AMBA +2.96% shares rose in the extended session Monday after the video components maker reported a better-than-expected outlook and results. Ambarella shares gained 5.5% after hours, following a 0.1% decline in the regular session to close at $66.37. The company reported a third-quarter loss of $17.1 million, or 49 cents a share, compared with a loss of $4.3 million, or 13 cents a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were 9 cents a share, compared with 32 cents a share in the year-ago period. Revenue declined to $56.1 million from $67.9 million in the year-ago quarter. Analysts surveyed by FactSet had forecast adjusted earnings of 5 cents a share on revenue of $54.1 million. Ambarella expects revenue between $56 million and $60 million in the fourth quarter, while analysts had forecast on revenue of $51.8 million.

/zigman2/quotes/207997433/composite
US : U.S.: Nasdaq
$ 108.24
+3.11 +2.96%
Volume: 450,316
Jan. 21, 2021 12:11p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$3.70 billion
Rev. per Employee
$300,568
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