Ambarella Profit Crushes Estimates

(RTTNews) - Semiconductor company Ambarella Inc (AMBA) on Tuesday reported first-quarter net earnings of $18.9 million or $0.56 per share compared with $5.3 million or $0.17 per share last year.

Excluding stock-based compensation expense, adjusted earnings for the quarter were $0.71 per share compared with $0.25 per share a year ago.

Revenues for the quarter were $71 million compared with $40.9 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.59 per share on revenues of $67.4 million for the quarter. Analysts' estimates typically exclude special items.

Gross margin for the quarter improved to 64.7% from 62.5% last year.