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Ambarella up 7% after beat, strong guidance, buyback

Jun. 04, 2019 4:17 PM ETAmbarella, Inc. (AMBA) StockAMBABy: Stephen Alpher, SA News Editor9 Comments
  • 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.
  • Conference call at 4:30 ET.
  • Shares are up 7% after hours.
  • Previously: Ambarella EPS beats by $0.07, beats on revenue (June 4)

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