Ambarella: Fiscal Q1 Earnings Snapshot
Posted June 1, 2021 1:19 pm.
Last Updated June 1, 2021 1:33 pm.
SANTA CLARA, Calif. (AP) _ Ambarella Inc. (AMBA) on Tuesday reported a loss of $10.8 million in its fiscal first quarter.
The Santa Clara, California-based company said it had a loss of 30 cents per share. Earnings, adjusted for stock option expense and pretax expenses, came to 23 cents per share.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.
The video-compression chipmaker posted revenue of $70.1 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $68.6 million.
For the current quarter ending in August, Ambarella said it expects revenue in the range of $74 million to $77 million.
Ambarella shares have increased 10% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $100.99, a climb of 78% 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
The Associated Press
