SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Ambarella Inc. (AMBA) on Thursday reported a loss of $37.9 million in its fiscal first quarter.
On a per-share basis, the Santa Clara, California-based company said it had a loss of 93 cents. Losses, adjusted for stock option expense and costs related to mergers and acquisitions, were 26 cents per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 32 cents per share.
The video-compression chipmaker posted revenue of $54.5 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $54 million.
For the current quarter ending in July, Ambarella said it expects revenue in the range of $60 million to $64 million.
Ambarella shares have decreased 21% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $48.31, a decline of 41% 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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