Ambarella: Fiscal 2Q Earnings Snapshot
SANTA CLARA, Calif. (AP) _ Ambarella Inc. (AMBA) on Thursday reported a fiscal second-quarter loss of $6.9 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Santa Clara, California-based company said it had a loss of 21 cents. Earnings, adjusted for stock option expense and non-recurring costs, were 25 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.
The video-compression chipmaker posted revenue of $62.5 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $62.3 million.
For the current quarter ending in November, Ambarella said it expects revenue in the range of $55.5 million to $58.5 million.
Ambarella shares have decreased 32 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $39.68, a drop of 27 percent in the last 12 months.