5 Companies Under Investors’ Radar After Releasing their Earnings Reports

3. Ambarella, Inc. (NASDAQ:AMBA)

Number of Hedge Fund Holders: 40

Shares of Ambarella, Inc. (NASDAQ:AMBA) plummeted to a nearly six-month low in the pre-market trading session on Tuesday, March 1, 2022, despite beating analysts’ expectations for its fiscal fourth quarter.

Ambarella, Inc. (NASDAQ:AMBA) reported adjusted earnings of 45 cents per share, up from 14 cents per share in the same period last year. The numbers were also higher than the consensus of 42 cents per share.

In addition, revenue for the quarter climbed 45 percent on a year-over-year basis to $90.2 million and exceeded the expectations of $90.16 million. Looking forward, Ambarella, Inc. (NASDAQ:AMBA) expects revenue of $88.5 – $91.5 million for its fiscal first quarter.

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

“Fiscal 2022 was an inflection year with record revenue and numerous milestones achieved. Computer vision revenue tripled and exceeded 25% of total revenue, driving our blended average selling price higher and fueling expansion of non-GAAP operating margin from 4% in fiscal 2021 to 19% in fiscal 2022.”