SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Ambarella Inc. (AMBA) on Thursday reported a loss of $20 million in its fiscal second quarter.
On a per-share basis, the Santa Clara, California-based company said it had a loss of 47 cents. Earnings, adjusted for stock option expense and costs related to mergers and acquisitions, were 15 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.
The video-compression chipmaker posted revenue of $95.5 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $90 million.
For the current quarter ending in October, Ambarella said it expects revenue in the range of $100 million to $108 million.
Ambarella shares have declined slightly more than 2% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $71.05, an increase of 22% 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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