Ambarella (NASDAQ: AMBA) reported Q3 EPS of $0.09, $0.04 better than the analyst estimate of $0.05. Revenue for the quarter came in at $56.1 million versus the consensus estimate of $55.04 million.

“Our AI vision portfolio is well positioned for the megatrends around security, safety and automation, and the pandemic appears to be accelerating the digital transformation,” said Fermi Wang, President and CEO. “We are announcing a significant automotive revenue funnel and providing a strong CV growth outlook. We have also recently added new CV customers in Asia, expanded our organization and strengthened our position in high volume markets with the introduction of CV28.”

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