Ambarella, Inc. (Nasdaq: AMBA), a technology company specializing in video compression and image processing, reported a second-quarter fiscal 2024 loss of $(0.15) per share, better than the consensus estimate loss of $(0.21) per share. The company's quarterly sales reached $62.12 million, slightly exceeding analysts' projected revenue of $62.05 million.

However, Ambarella's Q3 fiscal 2024 revenue projection is $50.0 million plus or minus 4%, which contrasts with the consensus estimate of $67.6 million in revenue for the period.

$AMBA was trading at $64.32 in after-hours, showing a decrease of $11.46 (-15.12%).

In other news, Science Applications International Corporation (NYSE: SAIC) has been awarded a substantial cost-plus-incentive-fee task order worth $574,527,416 for ground-based radar maintenance and sustainment services support. The contract entails the continued support and modification of the ground-based radar sensor system. The contracting activity overseeing this initiative is the Space Systems Command Acquisitions, based at Peterson Space Force Base, Colorado.

In after-hours, $SAIC was trading at $114.76, down $2.40 (-2.05%).

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