SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Ambarella Inc. (AMBA) on Thursday reported a loss of $18.1 million in its fiscal first quarter.
The Santa Clara, California-based company said it had a loss of 41 cents per share. Earnings, adjusted for stock option expense and costs related to mergers and acquisitions, came to 11 cents per share.
The results met Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was also for earnings of 11 cents per share.
The video-compression chipmaker posted revenue of $100.4 million in the period, surpassing Street forecasts. Six analysts surveyed by Zacks expected $100.2 million.
Ambarella shares have risen 30% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $91.75, a rise of 47% 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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