** charts after earnings **
Ambarella beats by $0.10, beats on revs; guides Q3 revs above consensus
- Reports Q2 (Jul) earnings of $0.35 per share, $0.10 better than the S&P Capital IQ Consensus of $0.25; revenues rose 58.3% year/year to $79.3 mln vs the $75.91 mln S&P Capital IQ Consensus.
- Co issues upside guidance for Q3, sees Q3 revs of $88.0-$92.0 mln vs. $78.54 mln S&P Capital IQ Consensus. Gross margin on a non-GAAP basis is expected to be between 61.0% and 63.0%.
- "Our rapidly expanding AIoT foundation has positioned us to achieve record revenue in F2022, driven by new product cycles in existing markets and the expansion into new markets. The quality of our business is at its highest levels, with IoT cameras, primarily security, and automotive, representing ~90% of total Q2 revenue. We are capitalizing on this as demonstrated by the 450 basis point sequential increase in non-GAAP operating margin, reaching 16.9% in Q2..."
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