Ambarella shares wobbly after earnings beat, weak outlook

Ambarella Inc. shares switched between gains and losses in the extended session Tuesday after the camera component maker and GoPro Inc. supplier topped Wall Street estimates but forecast weaker-than-expected revenue. Ambarella shares were last up 0.9% after hours, following a 0.3% decline to close the regular session at $49.39. For the fiscal second quarter, Ambarella estimates revenue between $60 million and $64 million, while analysts surveyed by FactSet expect revenue of $68.2 million. The company reported a fiscal first-quarter loss of $10 million, or 30 cents a share, compared with a profit of $2.6 million, or 7 cents a share, in the year-ago period. Adjusted earnings were 13 cents a share. Revenue fell to $56.9 million from $64.1 million in the year-ago period. Analysts had estimated 9 cents a share on revenue of $56.1 million.