Ambarella Analysts Increase Their Forecasts After Upbeat Q2 Results

Ambarella Inc (NASDAQ:AMBA) reported better-than-expected second-quarter results and issued strong third-quarter forecast on Thursday.

Ambarella reported quarterly earnings of 15 cents per share which beat the analyst consensus estimate of 5 cents per share. The company reported quarterly sales of $95.511 million which beat the analyst consensus estimate of $90.010 million.

Ambarella said it sees third-quarter sales of $100.000 million to $108.000 million versus market estimates of $91.138 million.

“We are experiencing strong secular growth in the edge AI market, with an expanding breadth of applications driving unit demand, often with our higher priced 5nm AI SoCs. For example, a variety of portable AI video applications have reached production status, and ...