Ambarella Reports Q1 Beat, Provides Guidance

Ambarella, Inc. (NASDAQ:AMBA) reported its Q1 results, with EPS of $0.44 coming in better than the Street estimate of $0.36. Revenue was $90.3 million, compared to the Street estimate of $90.08 million.
In addition to the 14nm wafer shortage highlighted a quarter ago (Samsung), the company further lowered its Q2 guidance citing China covid lockdown-related supply/logistics disruptions. The company expects Q2 revenue in the range of $78-82 million, compared to the consensus estimate of $91.5 million.
Looking beyond Q2, and taking a more optimistic tone, the company expects supply to rebound in H2/22 as China lockdowns are removed and 14nm supply rebounds.
While the analysts at Deutsche Bank agree that Q2 is likely to mark the near-term revenue trough and remain impressed with the company’s CV-led technology leadership/growth, the combination of ongoing macro/sector-specific uncertainties and the company’s already premium valuation lead them to reiterate their hold rating.

Follow us on Google news for more updates and News

Full Disclaimer



Get the most important news and analyses for Free.

Thank you for subscribing.

Something went wrong.