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

Ambarella stock roared 20% higher Friday as the chip designer reported better-than-expected second-quarter results and issued strong guidance.Here's how the company did compared to LSEG expectations:Earnings: 15 cents per share adj. vs 5 cents per share expectedRevenue: $96 million vs $90 million expectedAmbarella, which is known for its system-on-chip semiconductors and software used for edge artificial intelligence, said it expects third-quarter revenue between $100 million and $108 million, beating the L ...