Ambarella stock rises after earnings beat

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Ambarella Inc. AMBA, +1.05% shares rose more than 6% in the extended session Tuesday after the company beat earnings expectations. The semiconductor company reported fourth-quarter net losses of $4.

5 million, or 14 cents a share, compared with $1.3 million, or 4 cents a share, in the year-ago period. Adjusted for items such as stock-based compensation and taxes-related charges, earnings were 14 cents a share, compared with 47 cents a share in the year-ago quarter. Revenue fell to $51.1 million from $70.6 million in the year-ago period. Analysts surveyed by FactSet had estimated adjusted earnings of 4 cents a share on revenue of $50.9 million.

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