Ambarella Inc.
AMBA,
-4.28%
shares rose in the extended session Tuesday after the video components maker’s results and outlook sailed past Wall Street estimates.
Ambarella shares gained 8% after hours, following a 4.3% decline in the regular session to close at $113.71.
The company reported a fourth-quarter loss of $12.5 million, or 35 cents a share, compared with a loss of $13 million, or 39 cents a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were 14 cents a share, flat compared with the year-ago period.
Revenue rose to $62.1 million from $57.2 million in the year-ago quarter based on strong AI vision product sales. Analysts surveyed by FactSet had forecast adjusted earnings of 8 cents a share on revenue of $58.1 million.
Ambarella expects revenue between $67 million and $70 million in the first quarter, while analysts had forecast revenue of $56.4 million. Ambarella shares have gained 90% over the past 12 months.
