Ambarella Reports Q1 Beat, Provides Guidance
<p><a href='https://financialmodelingprep.com/financial-summary/AMBA'>Ambarella, Inc. (NASDAQ:AMBA) </a>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.</p>
<p>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.</p>
<p>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. </p>
<p>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.</p>

NASDAQ:AMBA