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Ambarella Earnings: AMBA Stock Soars 9% on Strong Q3 Results


Ambarella (NASDAQ:AMBA) earnings for the semiconductor design company’s fiscal third quarter of 2020 have AMBA stock flying high on Monday. This is due to the company’s adjusted earnings per share of 32 cents and revenue of $67.90 million. These both come in above Wall Street’s estimates of 20 cents and $65.03 million for the period.

Ambarella Earnings: AMBA Stock Soars 9% on Strong Q3 Results

Source: Sundry Photography / Shutterstock.com

Now for a closer look at the most recent Ambarella earnings report.

  • Adjusted EPS is up 52.38% from the 21 cents reported during the same time last year.
  • Revenue is 18.60% better than the $57.30 million reported in the fiscal third quarter of 2019.
  • Operating loss of -$7.17 million is 23.89% better YoY than -$9.42 million.
  • The Ambarella earnings report also includes a net loss of -$4.31 million.
  • This is a 52.22% improvement over the company’s net loss of -$9.02 million in the same period of the year prior.
  • Total cash, cash equivalents and marketable securities at the end of the quarter were $400.80 million.

Fermi Wang, President and CEO of Ambarella, says this about the AMBA stock earnings.

“Our October 15th update provided clarity on one trade issue faced by the company, though other foreign policy, trade and IP matters remain outstanding, with a wide range of potential outcomes. Despite the geopolitical and trade uncertainties, in Q3 we demonstrated continued progress toward our transition to a video AI company, with mass production shipments into the automotive and security camera markets continuing to ramp.”

AMBA stock was up 9.00% in after-hours trading on Monday. The stock also closed out the day up 6.05%.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2019/11/ambarella-earnings-boost-amba-stock/.

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