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Ambarella posts 4Q profit, results beat Wall Street forecasts

SANTA CLARA, Calif. – SANTA CLARA, Calif. (AP) _ Ambarella Inc. (AMBA) on Thursday reported fiscal fourth-quarter earnings of $5.1 million.

On a per-share basis, the Santa Clara, California-based company said it had profit of 15 cents. Earnings, adjusted for stock option expense and pretax expenses, came to 64 cents per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.

The video-compression chipmaker posted revenue of $68 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $64.8 million.

For the year, the company reported profit of $76.5 million, or $2.27 per share. Revenue was reported as $316.4 million.

For the current quarter ending in May, Ambarella said it expects revenue in the range of $55 million to $57 million.

Ambarella shares have dropped 17 per cent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $46.24, a fall of 27 per cent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMBA at http://www.zacks.com/ap/AMBA

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Keywords: Ambarella, Earnings Report