Ambarella Posts Higher Sales, Narrower Loss

Dow Jones
Sep 04
 
 

Ambarella recorded higher sales and a narrower loss in the second quarter, citing record growth in its edge AI business.

The maker of semiconductor processors on Thursday posted a loss of $6.7 million, or 15 cents a share, compared with a loss of $20.0 million, or 47 cents a share, a year earlier.

Stripping out certain one-time items, adjusted per-share earnings were 18 cents, ahead of the 17 cents anticipated by analysts, according to FactSet.

Revenue rose 13% to $108.1 million. Analysts surveyed by FactSet forecast revenue of $107.8 million.

Ambarella's revenue from edge AI reached record levels in the second quarter, with balanced sequential growth from its automotive and Internet of Things markets.

In the current third quarter, Ambarella expects revenue to be $115 million to $124 million. Analysts were projecting $119.3 million.

 
 

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