Ambarella stock rips 20% higher after earnings as AI demand boosts guidance
1. Ambarella stock surged 20% after better-than-expected Q2 results. 2. Q2 earnings per share were 15 cents, surpassing expectations of 5 cents. 3. Revenue projections for Q3 are between $100-$108 million, exceeding estimates. 4. Fiscal year revenue growth outlook raised to 31-35%, far above prior expectations. 5. CEO mentions strong performance in edge AI and portable video applications.