Ambarella stock rips 20% higher after earnings as AI demand boosts guidance
Ambarella stock roared 20% higher Friday as the chip designer reported better-than-expected second-quarter results and issued strong guidance. Here's how the company did compared to LSEG expectations: Earnings: 15 cents per share adj. vs 5 cents per share expected 15 cents per share adj. vs 5 cents per share expected Revenue: $96 million vs $90 million expected Ambarella, which is known for its system-on-chip semiconductors and software used for edge artificial intelligence, said it expects