Ambarella, Inc. (AMBA - Free Report) just released its fourth-quarter and fiscal 2018 financial results, posting adjusted earnings of $0.45 per share and revenues of $70.58 million.
Currently, Ambarella is a Zacks Rank #3 (Hold) and is up over 5% to $48 per share in after-hours trading shortly after its earnings report was released.
Beat earnings estimates. The company posted adjusted earnings of $0.45 per share, beating the Zacks Consensus Estimate of $0.37 per share.
Beat revenue estimates. The company saw revenue figures of $70.58 million, topping our consensus estimate of $70.41 million.
Ambarella revenues sunk 19.3% from the year-ago period. On top of that, full fiscal year sales slipped by 4.8% to $295.4 million.
The company now expects to post first quarter fiscal 2019 revenues between $54.5 million and $57.5 million, which comes in below our current consensus estimate of $59.17 million.
“With the success of our initial development efforts and response from customers, especially in security and automotive, we intend to continue to accelerate the development and deployment of CV solutions in all our key markets,” CEO Fermi Wang said in a statement.
Here’s a graph that looks at AMBA’s Price, Consensus and EPS 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. Ambarella, Inc. is headquartered in Santa Clara, California.
Check back later for our full analysis on AMBA’s earnings report!
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