Ambarella: Fiscal Q2 Earnings Snapshot
SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Ambarella Inc. (AMBA) on Tuesday reported a loss of $31.2 million in its fiscal second quarter.
The Santa Clara, California-based company said it had a loss of 79 cents per share. Losses, adjusted for one-time gains and costs, came to 15 cents per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 21 cents per share.
The video-compression chipmaker posted revenue of $62.1 million in the period, which fell short of Street forecasts. Seven analysts surveyed by Zacks expected $62.4 million.
Ambarella shares have declined almost 8% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $75.78, a decline of 10% 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