U.S. markets closed

Ambarella: Fiscal 1Q Earnings Snapshot

SANTA CLARA, Calif. (AP) _ Ambarella Inc. (AMBA) on Tuesday reported a loss of $15.5 million in its fiscal first quarter.

The Santa Clara, California-based company said it had a loss of 45 cents per share. Earnings, adjusted for stock option expense and pretax expenses, were 4 cents per share.

The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.

The video-compression chipmaker posted revenue of $54.6 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $54.3 million.

For the current quarter ending in August, Ambarella said it expects revenue in the range of $47 million to $53 million.

Ambarella shares have increased nearly 2% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $61.55, a rise of 62% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMBA at https://www.zacks.com/ap/AMBA