Ambarella’s Q4 revenue and earnings soared late Tuesday as it capitalized on growing demand for chips that enable drones, wearables as well as security and automotive cameras to take high-definition video. The Santa Clara, Calif.-based company, which provides video processor chips to camera makers such as GoPro (GPRO), reported a 161.5% increase in earnings per share excluding items to 68 cents, beating analysts’ expectations
B est known for copying Apple’s (AAPL) iPhone, China’s Xiaomi is now aping GoPro’s action cameras. And as with its smartphones, Xiaomi is positioning its sports camera as a technologically comparable, low-cost alternative to the market leader. Xiaomi (roughly pronounced “show me”) introduced its Yi Action Camera for $64 in China. GoPro ‘s (GPRO) entry-level Hero camera retails for $130. The Yi camera has a boxy design and can shoot in high-definition and ultra HD video like the Hero. Also like GoPro’s camera, it uses a video processor from Ambarella (AMBA). The Yi camera is available only in China, but GoPro has high hopes for that market. The camera is being sold through Xiaomi’s Mi.com store, but is made by partner company Xiaoyi, TechCrunch
Ambarella (AMBA) is expected to post double-digit growth in earnings and revenue when the video chipmaker reports Q4 results after the close Tuesday. Analysts polled by Thomson Reuters forecast an 88% increase in earnings per share excluding items, at 49 cents. Revenue is expected to jump 48% to $59.4 million. Santa Clara, Calif.-based Ambarella provides video processors to camera makers such as GoPro (GPRO), which makes wearable, high-definition