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Why Ambarella Earnings Are Finally Decoupled From GoPro

Ambarella, Inc. (NASDAQ: AMBA) reported fiscal first-quarter financial results after markets closed on Thursday. The company had $0.34 in earnings per share (EPS) on $57.2 million in revenue compared to consensus estimates from Thomson Reuters that called for $0.28 in EPS on $57.01 million in revenue. The same period from last year had $0.71 in EPS on $71.01 million in revenue.

Considering the GoPro, Inc. (NASDAQ: GPRO) situation, some investors might have had low opinions on Ambarella and expected a poor quarter. GoPro is currently going through a transitionary phase for its products. With Ambarella tied to it as its key supplier, weaker estimates were most likely made on the assumption that GoPro’s...