Ambarella, Inc. ( (NASDAQ:AMBA) ) just released its third-quarter fiscal 2018 financial results, posting non-GAAP earnings of 75 cents per share and revenues of $89.1 million.
Currently, AMBA is a Zacks Rank #3 (Hold) and is up 4.57% to $56.75 per share in after-hours trading shortly after its earnings report was released.
Ambarella:
Beat earnings estimates. The company posted non-GAAP earnings of $0.75 per share, beating the Zacks Consensus Estimate of $0.66. GAAP earnings came in at $0.34 per share.
Beat revenue estimates. The company saw revenue figures of $89.1 million, beating our consensus estimate of $88.96 million. Total revenue was down about 11.4% year-over-year.
Cash, cash equivalents, and marketable securities on hand at the end of the quarter was $414.0 million, up about 11.3% from the $372.1 million in hand at the end of the prior-year quarter.
“During the quarter, we continued our solid execution in support of the development and delivery of our next generation of computer vision solutions. We met our aggressive goal of demonstrating our CV1 performance to customers and commenced sampling in the security and automotive markets,” said CEO Fermi Wang.
Ambarella expects fourth-quarter revenue to be between $68.0 million and $72.0 million. Our current consensus estimate is calling for revenue of $70.36 million.
Here’s a graph that looks at AMBA’s earnings surprise history:
Ambarella, Inc. develops video compression and image processing semiconductors. The Company's products are used in digital still cameras, digital camcorders, and video-enabled mobile phones. Ambarella sells its solutions to original design manufacturers and original equipment manufacturers. Its technology is also used in television broadcasting infrastructure systems.
Check back later for our full analysis on AMBA’s earnings report!
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