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Ambarella Slumps After Keeping Its Guidance Steady, and Takes GoPro with It

With shares up about 90% from their May lows going into earnings, a slight revenue beat and in-line sales guidance wasn't enough to keep Ambarella (AMBA) from selling off post-earnings. The reception for top client GoPro's (GPRO) pending hardware refresh might now dictate how its stock performs in the coming months.

Ambarella, the top supplier of video processors for the action camera, drone and IP security camera markets, reported fiscal second-quarter revenue of $65.1...