- Alongside FQ1 top- and bottom-line beats, Ambarella (NASDAQ:AMBA) guided to FQ2 revenue of $51M-$53M vs. consensus $48.8M.
- The company took note of China trade tensions as hitting revenue and gross margin.
- FQ1 adjusted gross margin of 59.6% was down from 61.8% a year ago, but inline with estimates. FQ2 adjusted gross margin is seen at 57%-59%.
- The company has authorized a $50M buyback program through the end of June 2020.
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Conference call at 4:30 ET.
- Shares are up 7% after hours.
- Previously: Ambarella EPS beats by $0.07, beats on revenue (June 4)