Add as a preferred source on GoogleMobileye Shares Fall 4.5% as Revenue Guidance Midpoint Rises $13 Million
Revenue fell 2.4% from a year earlier but beat estimates at $492 million. Adjusted earnings also topped estimates, reaching 11 cents per share.
Mobileye Global Inc. shares fell 4.5% in premarket trading Thursday after the autonomous-driving software maker raised its full-year revenue guidance midpoint by $13 million alongside its third-quarter results.
Revenue for the period ended Sept. 26 was $492 million, down 2.4% year over year but above the $476.8 million estimate. Adjusted earnings were 11 cents per share, topping the 10-cent estimate.
The guidance increase reflected higher-than-expected deliveries of Mobileye’s SuperVision product and the company passing on higher memory costs.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.