Ambarella (AMBA) Stock Up On Q4 Earnings And Revenue Beat
Zacks Investment Research | Mar 03, 2020 08:40PM ET
Shares of Ambarella, Inc. (NASDAQ:AMBA) soared nearly 8% during yesterday’s extended trading session, after the company reported better-than-expected fourth-quarter fiscal 2020 results. The company’s quarterly earnings of 14 cents per share beat the Zacks Consensus Estimate by 16.7%.
Notably, quarterly earnings remained flat, year over year, as benefits from stellar revenues were offset by elevated costs and expenses, as well as higher number of shares outstanding.
The company’s quarterly revenues of $57.2 million came in line with the consensus mark. The top line increased 12% year over year. Its transition to a video AI company is a tailwind. Softness in the automotive and security camera market slightly hurt Ambarella’s overall revenue growth in the quarter.
Ambarella’s CV portfolio is also attracting customers, helping it expand the client base. During the quarter, the company shipped pre-production parts and development systems to more than 100 customers.
Ambarella, Inc. Price, Consensus and EPS Surprise
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