Ambarella (NASDAQ: AMBA) reported Q1 EPS of $0.25, $0.04 better than the analyst estimate of $0.21. Revenue for the quarter came in at $40.9 million versus the consensus estimate of $40 million.

"We are very pleased with the financial results of our first fiscal quarter of 2015," said Fermi Wang, president and CEO. "During the first quarter we achieved revenue of $40.9 million, up 21% from the same period last year, driven by continued growth in our IP security camera business. We believe the expanding markets for innovative, high definition professional and consumer cameras will continue to give us the opportunity to grow our revenues in the year ahead."

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