SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Ambarella Inc. (AMBA) on Wednesday reported a loss of $20.2 million in its fiscal fourth quarter.
The Santa Clara, California-based company said it had a loss of 48 cents per share. Earnings, adjusted for one-time gains and costs, came to 11 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.
The video-compression chipmaker posted revenue of $84 million in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $78.1 million.
For the current quarter ending in April, Ambarella said it expects revenue in the range of $81 million to $87 million.
Ambarella shares have increased 4% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $75.81, a rise of 33% 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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