BUZZ-Ambarella drops after CFO warns of sequential decline in Q4 revenue

Reuters11-26
BUZZ-Ambarella drops after CFO warns of sequential decline in Q4 revenue 

** Shares of chip designer Ambarella AMBA.O fall 6.6% to $84.95 premarket after CFO warns of sequential decline in Q4 revenue

** Co sees Q4 revenue in the range of $97 mln-$103 mln, down sequentially

** "Sequentially, due to seasonality, we expect a mid to high single-digit decline in both our automotive and IoT businesses," CFO John Young says in the earnings call

** Co's net loss narrows to $15.1 mln; loss driven by high R&D spend despite strong revenue growth

** Co posts Q3 revenue $108.45 mln, above est. of $104.12 mln; adj. EPS $0.27, above est. of $0.21 - data compiled by LSEG

** Up to last close, stock up 25.06% YTD

(Reporting by Tharuniyaa Lakshmi in Bengaluru)

((tharuniyaa@thomsonreuters.com))

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