Ambarella Inc. (AMBA) stock surged over 11% in the pre-market trading session on Thursday, following the company's impressive fourth-quarter results and better-than-expected revenue guidance for the first quarter.
The computer vision chipmaker reported non-GAAP earnings per share of $0.11 for the fourth quarter, beating the consensus estimate of a $0.02 loss. Additionally, Ambarella's revenue for the quarter came in at $84.0 million, exceeding the consensus forecast of $78.04 million.
Looking ahead, Ambarella expects first-quarter revenue to range between $81 million and $87 million, well above the analyst consensus of $74.22 million. The company also provided an upbeat outlook for its gross margin and operating expenses for the upcoming quarter.
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