Ambarella's (AMBA) Price Target Lowered to $85 at Deutsche Bank as Guidance Disappoints
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Ambarella, Inc. Announces Second Quarter Fiscal 2016 Financial Results
September 1, 2015 4:05 PM EDTSANTA CLARA, Calif., Sept. 1, 2015 (GLOBE NEWSWIRE) -- Ambarella, Inc. (NASDAQ: AMBA), a leading developer of low-power, HD video compression and image processing semiconductors, today announced financial results for its second fiscal quarter ended July 31, 2015.
Revenue for the second quarter of fiscal 2016 was $84.2 million, up 79.3% from $47.0 million in the same period in fiscal 2015. For the six months ended July 31, 2015, revenue was $155.2 million, up 76.6% from $87.9 million for the six months ended July 31, 2014. Gross margin under U.S. generally accepted accounting principles (GAAP) for the second quarter of fiscal 2016 was 65.1%, compared with... More