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AMBA

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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 expected

Revenue: $96 million vs $90 million expected

Ambarella, 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 LSEG estimate of $91 million.

The company boosted its fiscal year revenue growth outlook to a range of 31-35%, to $379 million at the midpoint, which topped the $350 million expected by LSE

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