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Ambarella Inc. (AMBA - Free Report) just released its third quarter fiscal 2017 financial results after the bell, posting GAAP earnings of 84 cents per share and revenues of $100.5 million. AMBA is a #3 (Hold) on the Zacks Rank, and is up 3.27% to $63.40 per share in after-hours trading.

Beat earnings estimates. The company reported GAAP earnings of 84 cents per share, soaring past the Zacks Consensus Estimate of 68 cents per share.

Beat revenue estimates. The company saw revenue figures of $100.5 million, beating our consensus estimate of $96 million and growing 7.8% year-over-year.

GAAP gross margin was 66.0% for the quarter, while non-GAAP gross margin was 66.3%.

Looking ahead to Q4, Ambarella expects revenue to be in the range of $84 million to $87 million, with gross margin on a non-GAAP basis to be between 64.0% and 65.5%.

"We are very proud to have achieved more than $100 million in revenue in the quarter, a new milestone," said Fermi Wang, CEO of Ambarella.  "We saw continued revenue growth in IP security, home monitoring and the automotive camera markets, as well as a ramp in revenue from action sports cameras for the holiday season. We were also pleased to enable the introduction of a new generation of products, offering 4Kp60 video performance for the first time.”

Here’s a graph that looks at Ambarella’s price, consensus, and EPS surprise:

AMBARELLA INC Price, Consensus and EPS Surprise

AMBARELLA INC Price, Consensus and EPS Surprise | AMBARELLA INC Quote

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. Ambarella, Inc. is headquartered in Santa Clara, California.

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