Ambarella (AMBA) Tops Q2 EPS by 6c; Guides Q3 Revenue Lower

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Go back to Ambarella (AMBA) Tops Q2 EPS by 6c; Guides Q3 Revenue Lower

Ambarella, Inc. Announces Second Quarter Fiscal Year 2024 Financial Results

August 29, 2023 4:05 PM EDT

SANTA CLARA, Calif., Aug. 29, 2023 (GLOBE NEWSWIRE) -- Ambarella, Inc. (NASDAQ: AMBA), an edge AI semiconductor company, today announced financial results for its second quarter of fiscal year 2024 ended July 31, 2023.

Revenue for the second quarter of fiscal 2024 was $62.1 million, down 23% from $80.9 million in the same period in fiscal 2023. For the six months ended July 31, 2023, revenue was $124.3 million, down 27% from $171.2 million for the six months ended July 31, 2022.Gross margin under U.S. generally accepted accounting principles (GAAP) for the second quarter of fiscal 2024 was 61.9%, compared with 63.1% for the same period in fiscal... More