Ambarella: Fiscal Q4 Earnings Snapshot




  • In US
  • 2021-03-02 21:41:10Z
  • By Associated Press

SANTA CLARA, Calif. (AP) _ Ambarella Inc. (AMBA) on Tuesday reported a loss of $12.5 million in its fiscal fourth quarter.

On a per-share basis, the Santa Clara, California-based company said it had a loss of 35 cents. Earnings, adjusted for one-time gains and costs, were 14 cents per share.

The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.

The video-compression chipmaker posted revenue of $62.1 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $58.2 million.

For the year, the company reported that its loss widened to $59.8 million, or $1.72 per share. Revenue was reported as $223 million.

For the current quarter ending in May, Ambarella said it expects revenue in the range of $67 million to $70 million.

Ambarella shares have risen 24% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $113.71, an increase of 90% 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

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