Ambarella (AMBA) Stock Plunges 18% on Disappointing Guidance
Ambarella (NASDAQ: AMBA) shares dropped more than 18% after-hours following the company’s disappointing guidance. The company’s Q4 results came better than expected, with EPS of $0.45 beating the Street estimate of $0.42. Revenue grew 45% year-over-year to $90.2 million, slightly above the Street estimate of $90.16 million.
The company expects Q1/23 revenue to range from $88.5 million to 91.5 million, below the consensus estimate of $90.88 million.