Ambarella (NASDAQ:AMBA) shares rose more than 3% on Friday following the company’s reported Q3 results, with EPS of $0.24 coming in better than the Street estimate of $0.20. Revenue was $83.1 million, compared to the Street estimate of $83.02 million.

Despite delivering another roughly in-line quarter, the company (like most companies within the Semiconductor industry) remains exposed to present and inbound macro/industry-specific headwinds as demonstrated by their softer top-line guide for Q4 and disappointing forecast of a “sub-seasonal” top-line decline in Q1.

For Q4/23, the company expects revenue to be in the range of $81-85 million, compared to the Street estimate of $85.39 million.