Ambarella Earnings: Here’s Why Investors are Excited Now
Ambarella (NASDAQ:AMBA) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 6.58%.
Ambarella Earnings Cheat Sheet
Revenue: Rose 34.84% to $37.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Ambarella reported adjusted EPS income of $0.26 per share. By that measure, the company beat the mean analyst estimate of $0.19. It beat the average revenue estimate of $35.99 million.
Quoting Management: “We continue to be very pleased with our progress, with second quarter revenue of $37.7 million, up 35% over the $28 million we reported in the same period a year ago,” said Fermi Wang, President and CEO of Ambarella. “We continue to enjoy solid success in professional and consumer IP security markets, where we are delivering cost effective, feature rich solutions for technically demanding products. In addition to our security market success, our wearable sports and automotive camera markets continue to grow, contributing to our strong year-over-year growth.”
Key Stats (on next page)…