** charts before earnings **
** charts after earnings **
Ambarella beats by $0.12, reports revs in-line; guides Q4 revs below consensus
- Reports Q3 (Oct) earnings of $0.21 per share, $0.12 better than the S&P Capital IQ Consensus of $0.09; revenues fell 35.7% year/year to $57.3 mln vs the $57.12 mln S&P Capital IQ Consensus.
- Gross margin on a non-GAAP basis for the third quarter of fiscal 2019 was 60.9%, compared with 64.0% for the same period in fiscal 2018
- Co issues downside guidance for Q4, sees Q4 revs of $51.0, plus or minus 3% ($49.5-$52.5 mln) vs. $55.60 mln S&P Capital IQ Consensus. Sees Gross margin on a non-GAAP basis of between 59.0% and 60.5%.
- Commentary: "The short term revenue outlook continues to be under pressure as our business shifts away from consumer electronic applications and faces geopolitical and macroeconomic challenges, as we have previously discussed. We are, however, very encouraged with our strategy and position at the forefront of the nascent computer vision market. Less than 1 year after sampling our first computer vision device we continue to achieve major product and market development milestones. In the third fiscal quarter we realized our first computer vision design wins in the automotive market and in the current quarter we expect our first mass production computer vision revenue from the professional surveillance camera market."
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