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Ambarella: Fiscal 2Q Earnings Snapshot

August 29, 2019

SANTA CLARA, Calif. (AP) _ Ambarella Inc. (AMBA) on Thursday reported a loss of $10.2 million in its fiscal second quarter.

The Santa Clara, California-based company said it had a loss of 31 cents per share. Earnings, adjusted for stock option expense and pretax expenses, were 21 cents per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.

The video-compression chipmaker posted revenue of $56.4 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $52.1 million.

For the current quarter ending in November, Ambarella said it expects revenue in the range of $63 million to $67 million.

Ambarella shares have risen 35% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $47.37, a climb of 18% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMBA at https://www.zacks.com/ap/AMBA

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