Ambarella Surges On Earnings Beat, Buyback Program Extension

by Javier Hasse, Benzinga Editor

December 1, 2016 4:53 PM | 29 seconds read | Make a Comment

Ambarella Inc AMBA reported Q3 EPS of $1.11, beating the Street’s consensus by $0.17.
Revenue of $100.5 million, up 7.8 percent year-over-year, came in $3.2 million ahead of expectations.
Management guided for Q4 revenue of $84 million to $87 million, versus expectations for $90 million in sales.
The current share repurchase plan was extended to permit the buyback of up to an aggregate of $75 million in stock through June 30, 2017.
Shares traded up more than 2.1 percent in Thursday’s after-hours session.

Posted In: Earnings News Guidance After-Hours Center Movers

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