Ambarella: Fiscal 3Q Earnings Snapshot
SANTA CLARA, Calif. (AP) _ Ambarella Inc. (AMBA) on Thursday reported a fiscal third-quarter loss of $9 million, after reporting a profit in the same period a year earlier.
The Santa Clara, California-based company said it had a loss of 28 cents per share. Earnings, adjusted for stock option expense, came to 21 cents per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.
The video-compression chipmaker posted revenue of $57.3 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $57.1 million.
Ambarella shares have fallen 43 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $33.75, a drop of 38 percent in the last 12 months.