Ambarella stock rips 20% higher after earnings as AI demand boosts guidance

Group 1 - Ambarella's stock increased by 20% following better-than-expected second-quarter results and strong guidance for the third quarter [1] - The company expects third-quarter revenue to be between $100 million and $108 million, surpassing LSEG's estimate of $91 million [1] - Ambarella raised its fiscal year revenue growth outlook to a range of 31-35%, with a midpoint of $379 million, exceeding LSEG's expectation of $350 million [2] Group 2 - The company reported adjusted earnings of 15 cents per share, compared to the expected 5 cents per share [3] - Revenue for the quarter was $96 million, exceeding the expected $90 million [3] - CEO Fermi Wang highlighted the company's extensive product portfolio and investments in edge AI R&D, enabling it to address a wider range of applications [2]