Ambarella Results Beat Estimates

(RTTNews) - Semiconductor company Ambarella Inc (AMBA) on Tuesday reported second-quarter net earnings of $23.1 million or $0.68 per share compared with $9.3 million or $0.29 per share last year.

Excluding items, adjusted earnings for the quarter were $0.88 per share compared with $0.37 per share a year ago.

Revenues for the quarter were sharply up at $84.2 million compared with $47 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.80 per share on revenues of $81.7 million for the quarter. Analysts' estimates typically exclude special items.

Gross margin for the quarter improved to 65.1% from 65% last year.

Ambarella develops low-power, HD video compression and image processing semiconductors.