Investing.com - Ambarella reported on Thursday third quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Ambarella announced earnings per share of $0.24 on revenue of $83.1M. Analysts polled by Investing.com anticipated EPS of $0.20 on revenue of $83.02M.
Ambarella shares are down 63% from the beginning of the year and are trading at $75.69 , down-from-52-week-high.
Ambarella shares gained 2.38% in after-hours trade the report.
Ambarella follows other major Information Technology sector earnings this month
Ambarella's report follows an earnings missed by NVIDIA on Wednesday, November 16, 2022, who reported EPS of $0.58 on revenue of $5.93B, compared to forecasts EPS of $0.71 on revenue of $5.8B.
Cisco had beat expectations on Wednesday, November 16, 2022 with first quarter EPS of $0.86 on revenue of $13.6B, compared to forecast for EPS of $0.84 on revenue of $13.29B.
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