For the second quarter the company reported earnings of 37 cents a share, beating the Capita IQ Consensus Estimate of 28 cents a share by 9 cents. Revenue grew 24.6% year over year to $47 million for the quarter. Analysts expected revenue of $44.7 million for the quarter.
"We are delighted with our second quarter financial results," president and CEP Fermi Wang said in a press release. "We achieved revenue of $47.0 million reflecting the success of our HD and Ultra-HD camera solutions in the expanding IP security camera, UAV and wearable sports camera markets."
Must Read: Warren Buffett's 25 Favorite StocksSTOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. TheStreet Ratings team rates AMBARELLA INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation: "We rate AMBARELLA INC (AMBA) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and notable return on equity. However, as a counter to these strengths, we find that the stock itself is trading at a premium valuation." You can view the full analysis from the report here: AMBA Ratings Report AMBA data by YCharts EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he and Stephanie Link think could be potentially HUGE winners. Click here to see the holdings for FREE.