: Ambarella stock down sharply after outlook falls short


Ambarella Inc. AMBA, +2.01% shares fell almost 7% after hours Tuesday, after rising 2% in the regular session to close at $94.31, after its outlook fell short of analyst expectations. The semiconductor company reported a fourth-quarter net loss of $11.1 million, or 29 cents a share, compared with $9.2 million, or 25 cents a share, in the year-ago period. Adjusted for stock-based compensation, income tax effects and other costs, earnings were 23 cents a share. Revenue fell to $83.3 million from $90.2 million in the year-ago quarter. Analysts surveyed by FactSet had forecast adjusted earnings of 14 cents a share on revenue of $83 million. Ambarella expects first-quarter revenue of $60 million to $64 million, while analysts had forecast earnings of 4 cents a share on revenue of $77 million.

This article was originally published by Marketwatch.com. Read the original article here.

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