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SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Ambarella Inc. (AMBA) on Tuesday reported a loss of $11.1 million in its fiscal fourth quarter.
The Santa Clara, California-based company said it had a loss of 29 cents per share. Earnings, adjusted for one-time gains and costs, came to 23 cents per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.
The video-compression chipmaker posted revenue of $83.3 million in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $83 million.
For the year, the company reported that its loss widened to $65.4 million, or $1.70 per share. Revenue was reported as $337.6 million.
For the current quarter ending in April, Ambarella said it expects revenue in the range of $60 million to $64 million.
Ambarella shares have risen 15% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $94.31, a decline of 32% 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 AMBA">Zacks stock report on AMBA at https://www.zacks.com/ap/AMBA