By Stephen Nakrosis
Shares of Ambarella were trading higher in the after-hours market on Tuesday, following the release of fourth-quarter financial results and guidance from the company.
After the bell, the stock had risen 12% to trade at $64.90 per share. Shares closed the day’s regular session with a 2% gain, at $57.96.
After the bell, Ambarella reported a fourth-quarter loss per share of $1.50 on revenue of $51.6 million. In the year-ago period, the company reported a loss per share of 29 cents on revenue of $83.3 million.
Ambarella said it was expecting first-quarter revenue in a range of $52 million and $56 million.
Fermi Wang, the company’s president and chief executive officer, said “We expect to return to revenue growth in fiscal year 2025, due to the strength of our AI products and the early actions we took to help our customers navigate their excess inventory.”
Ambarella said it is an edge AI semiconductor company.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
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