Ambarella: Fiscal 3Q Earnings Snapshot
SANTA CLARA, Calif. (AP) _ Ambarella Inc. (AMBA) on Monday reported a loss of $4.3 million in its fiscal third quarter.
On a per-share basis, the Santa Clara, California-based company said it had a loss of 13 cents. Earnings, adjusted for stock option expense, came to 32 cents per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.
The video-compression chipmaker posted revenue of $67.9 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $65 million.
For the current quarter ending in January, Ambarella said it expects revenue in the range of $55 million to $59 million.
Ambarella shares have risen 65% since the beginning of the year. In the final minutes of trading on Monday, shares hit $57.88, a rise of 72% in the last 12 months.