** charts before earnings **
** charts after earnings **
Ambarella beats by $0.22, beats on revs; guides Q4 revs below consensus :
- Reports Q3 (Oct) earnings of $1.08 per share, $0.22 better than the Capital IQ Consensus of $0.86; revenues rose 41.9% year/year to $93.2 mln vs the $89.89 mln Capital IQ Consensus.
- Gross margin on a non-GAAP basis for the third quarter of fiscal 2016 was 65.9%, compared with 63.4% for the same period in fiscal 2015. Guidance was for the range of 62.5-64.0%.
- "Our strong third quarter results reflect our success in expanding revenues in new markets such as flying cameras and home security monitoring, as well as existing markets for professional IP security cameras and automotive after-market dash cameras. Although we expect these markets to continue their strong annual growth, we are experiencing near term headwinds in the wearable sports market which is expected to negatively impact revenue in Q4 of this year,"
- Co issues downside guidance for Q4, sees Q4 revs of $65-67.5 mln vs. $76.30 mln Capital IQ Consensus Estimate.
- Gross margin on a non-GAAP basis is expected to be between 63.0% and 64.5%.
- Net income on a non-GAAP basis is expected to be between $15.0 million and $17.0 million.
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