Ambarella Jumps on Q1 Earnings

released its fiscal first-quarter earnings results after the closing bell on Tuesday. The company reported both earnings per share and revenue that were ahead of Wall Street estimates. In late trade, the stock was last up around 8 percent to $17.50. For the first-quarter, Ambarella reported earnings per share of $0.21. This beat Wall Street analysts' consensus EPS estimates of $0.15 by a wide margin. Sales in the period were $33.9 million, a 31 percent year over year increase. This also topped analysts' consensus estimates of $31.9 million.