=Ambarella (AMBA) reported earnings Thur 2 June 2016 (a/h)

Ambarella beats by $0.06, beats on revs; Announces $75 mln share repurchase:

• Reports Q1 (Apr) earnings of $0.34 per share, excluding non-recurring items,$0.06 better than the Capital IQ Consensus of $0.28; revenues fell 19.7% year/year to $57.2 mln vs the $56.28 mln Capital IQ Consensus.
• Gross margin on a non-GAAP basis for the first quarter of fiscal 2017 was 64.6% (Guidance 60.5-62.0%), compared with 64.8% for the same period in fiscal 2016
• Announces $75 mln share repurchase commencing in Q2.