Ambarella Shares Fall On Outlook Amid Earnings Beat
Ambarella Inc. shares fell in the extended session Thursday after the video chip maker forecast revenue for the current quarter well below Wall Street estimates. Ambarella shares declined 1.5% to $57 on heavy volume. The company said it expects fourth-quarter revenue of $65 million to $67.5 million. Analysts surveyed by FactSet had forecast $76.3 million. Ambarella reported adjusted third-quarter earnings of $1.08 a share on revenue of $93.2 million. Analysts had expected 86 cents a share on revenue of $89.9 million.
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