SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Ambarella Inc. (AMBA) on Thursday reported a loss of $6.7 million in its fiscal second quarter.
The Santa Clara, California-based company said it had a loss of 15 cents per share. Earnings, adjusted for one-time gains and costs, were 18 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.
The video-compression chipmaker posted revenue of $108.1 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $108 million.
For the current quarter ending in October, Ambarella said it expects revenue in the range of $115 million to $124 million.
Ambarella shares have decreased 11% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $63.38, a fall of 20% 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
