5 Stocks Gaining Attention After Releasing Their Earnings Reports

3. Ambarella, Inc. (NASDAQ:AMBA)

Number of Hedge Fund Holders: 37

Shares of Ambarella, Inc. (NASDAQ:AMBA) climbed over 17 percent in the pre-market trading session on Wednesday, 1 December 2021, after delivering solid profit and sales for its fiscal third quarter.

The fabless semiconductor design company reported adjusted earnings of 57 cents per share, well above 9 cents per share in the comparable period of 2020. Revenue for the quarter climbed 64 percent on a year-over-year basis to $92.2 million. Analysts were expecting Ambarella, Inc. (NASDAQ:AMBA) to post earnings of 49 cents per share on revenue of $90 million.

The company also released the revenue outlook for its fiscal fourth quarter. Ambarella, Inc. (NASDAQ:AMBA) expects to generate revenue in the range of $88.5 million – $91.5 million for the current quarter.

Discussing the results, CEO Fermi Wang said in a statement:

“I’m pleased with our progress in Q3, with positive operating leverage driving non-GAAP operating margins into the 20% range. Our operational execution remains strong, yet supply dynamics remain difficult to predict, as shortages of other companies’ components has become a more significant and gating factor to our results and outlook.”