GoPro (GPRO) Slips Lower Following Ambarella's (AMBA) Weak Q4 Outlook
GoPro (Nasdaq: GPRO) shares are ticking lower on the heels of Ambarella's (Nasdaq: AMBA) quarterly results.
After markets closed Thursday, Ambarella reported Q3 EPS of $1.08, which was 22 cents better than the consensus.
However, Ambarella guided for Q4 revenue of $65 to $67.5 million, which fell short of $76.3 million expected by Wall Street analysts. Gross margin on a non-GAAP basis is expected to be between 63.0 and 64.5 percent, versus 65.7 percent reported in Q3.
GoPro is down over 1 percent to all-time lows late Thursday.