Ambarella’s stock surged 20% following impressive second-quarter results, exceeding LSEG expectations. The chip designer reported adjusted earnings of 15 cents per share against an anticipated 5 cents, and revenue hit $96 million, surpassing the $90 million forecast. For the third quarter, Ambarella projects revenue between $100 million and $108 million, well above the LSEG estimate of $91 million. The company also raised its full fiscal year revenue growth outlook to between 31% and 35%, targeting $379 million at the midpoint compared to the expected $350 million. CEO Fermi Wang highlighted robust growth in portable video, robotic aerial drones, and edge infrastructure, emphasizing Ambarella’s focus on edge AI solutions. Despite posting a net loss of $20 million (47 cents per share), this was an improvement from last year’s $35 million loss (85 cents per share). Ambarella’s stock movement indicates renewed investor confidence amid ongoing AI advancements.
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