05:24 PM EDT, 05/30/2024 (MT Newswires) -- Ambarella ( AMBA ) reported a fiscal Q1 non-GAAP loss late Thursday of $0.26 per diluted share, wider than a loss of $0.15 per share a year earlier.

Analysts polled by Capital IQ expected a loss of $0.31.

Revenue for the quarter ended April 30 was $54.5 million, down from $62.1 million a year earlier.

Analysts surveyed by Capital IQ expected $54 million.

The company said it expects Q2 revenue of $60 million to $64 million. Analysts polled by Capital IQ expect $59.4 million.

Shares of Ambarella ( AMBA ) were up about 12% in after-hours activity.

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