Ambarella, Inc. AMBA reported better-than-expected earnings for its first quarter on Thursday.
The company posted quarterly earnings of 7 cents per share which beat the analyst consensus estimate of 3 cents per share. The company reported quarterly sales of $85.87 million which beat the analyst consensus estimate of $85.18 million.
“As the established edge AI market leader, we achieved our fourth consecutive quarter of record AI revenue with results in the upper half of our Q1 revenue guidance range. We are increasing our fiscal 2026 revenue growth guidance to a range of 19% to 25%, or approximately $348 million at the mid-point, with the broader guidance range reflecting our consideration of the uncertain geopolitical environment,” said Fermi Wang, President & CEO. “We continue to innovate at a rapid pace, and by leveraging our low power and scalable 3rd generation AI silicon and software architecture, our development of a new SoC is efficiently extending our reach into the edge AI infrastructure market.”
Ambarella said it sees second-quarter sales of $86.00 million to $94.00 million, versus market estimates of $87.07 million.
Ambarella shares fell 0.6% to close at $62.00 on Thursday.
These analysts made changes to their price targets on Ambarella following earnings announcement.
- Needham analyst Quinn Bolton maintained Ambarella with a Buy and lowered the price target from $110 to $90.
- Rosenblatt analyst Kevin Cassidy maintained the stock with a Buy and raised the price target from $87 to $95.
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