GoPro (GPRO) stock wiped out Wednesday after the company’s supplier of image-processing chips signaled weaker demand ahead for action cameras. GoPro, the top maker of action cameras, saw its shares skid 5.6% to 41.25 on the stock market today. GoPro stock is down 14.4% this week. Late Tuesday, Ambarella (AMBA), maker of video compression and image processing chips for GoPro and others, guided fiscal third-quarter revenue below Wall Street’s
Ambarella (AMBA) stock gapped down by double digits Wednesday after the GoPro (GPRO) sports camera chipmaker a day earlier guided its fiscal Q3 revenue below Wall Street’s forecast. The consensus of 13 analysts polled by Thomson Reuters modeled $92.3 million for Q3 revenue. Ambarella sees $91.5 million at the midpoint of its guidance range, which would still be up 39%. After Ambarella’s Q2 earnings conference call with analysts late Tuesday, the
GoPro (GPRO) chipmaker Ambarella (AMBA) is expected to blow past its year-earlier quarter when it reports its fiscal Q2 earnings after the close Tuesday. The consensus of 13 analysts polled by Thomson Reuters sees Ambarella posting earnings of 81 cents per share minus items, up 119% from the year-earlier quarter, on $81.7 million in revenue, up 74%. Wall Street’s revenue forecast is generally in line with Ambarella’s guidance, three months ago, of