Ambarella beats by $0.11, beats on revs; guides JanQ revs in-line; expects revenue growth in FY25 (58.71 +1.37)
- Reports Q3 (Oct) loss of ($0.28) per share, excluding non-recurring items, $0.11 better than the FactSet Consensus of ($0.39); revenues fell 39.1% year/year to $50.6 mln vs the $50.01 mln FactSet Consensus.
- Co issues in-line guidance for Q4 (Jan), sees Q4 revs of $50-53 mln vs. $50.35 mln FactSet Consensus.
- Co added, "Our customers appear to be making progress with their inventory reduction efforts and we expect to return to revenue growth in Fiscal 2025."