SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Ambarella Inc. (AMBA) on Tuesday reported a loss of $34.9 million in its fiscal second quarter.
On a per-share basis, the Santa Clara, California-based company said it had a loss of 85 cents. Losses, adjusted for stock option expense and costs related to mergers and acquisitions, were 13 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 19 cents per share.
The video-compression chipmaker posted revenue of $63.7 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $62.2 million.
For the current quarter ending in October, Ambarella said it expects revenue in the range of $77 million to $81 million.
Ambarella shares have declined 14% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $52.61, a drop of 27% 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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