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Ambarella, Inc. (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 6.52%.
Ambarella, Inc. Earnings Cheat Sheet
Revenue: Rose 28.21% to $31.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Ambarella, Inc. reported adjusted EPS income of $0.18 per share. By that measure, the company beat the mean analyst estimate of $0.13. It beat the average revenue estimate of $29.2 million.
Quoting Management: “We are very pleased with our fourth quarter and fiscal year 2013 financial results,” said Fermi Wang, president and CEO. “We experienced significant year-over-year growth in our automotive and sports camera markets, and we were especially pleased with progress in our professional IP security camera market, which contributed strong gross margins as well as substantial year-over-year revenue growth. As this security market continues to grow rapidly, driven by the migration from analog standard definition cameras to digital, IP-based high definition cameras, we believe our products offer advanced technology and leading features that allow our customers to deliver winning solutions to the market.”
Key Stats (on next page)…
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