Ambarella (AMBA) Tops Q2 EPS by 12c, Revenues Beat
Ambarella (NASDAQ: AMBA) reported Q2 EPS of $0.25, $0.12 better than the analyst estimate of $0.13. Revenue for the quarter came in at $62.5 million versus the consensus estimate of $62.14 million.
“While we are disappointed with our near term outlook, we remain confident that our decision to focus on computer vision applications in the IP security, automotive and robotics AI markets is the correct strategy and is already bearing fruit,” said Fermi Wang, president and CEO. “We have delivered our CV22 and CV2 computer vision chips to customers and their evaluation results are very encouraging. We believe our excellent neural network processing performance combined with the low power of our solutions gives us a strong competitive position in our target markets. Moreover, we continue to expand our computer vision product family to deliver solutions that more fully address the growing market opportunity,” he said.
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