Ambarella: Fiscal Q3 Earnings Snapshot

SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Ambarella Inc. (AMBA) on Thursday reported a loss of $41.7 million in its fiscal third quarter.

On a per-share basis, the Santa Clara, California-based company said it had a loss of $1.04. Losses, adjusted for stock option expense and costs related to mergers and acquisitions, were 28 cents per share.

The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 39 cents per share.

The video-compression chipmaker posted revenue of $50.6 million in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $50 million.

For the current quarter ending in January, Ambarella said it expects revenue in the range of $50 million to $53 million.

Ambarella shares have dropped 29% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $58.71, a drop of 21% in the last 12 months.

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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