Mobileye Global Tops Q2 Expectations, Expresses Bullishness On Volkswagen Group Partnership
Portfolio Pulse from Anusuya Lahiri
Mobileye Global Inc reported a Q2 FY23 revenue decline of 1% YoY to $454 million, beating the consensus of $451.7 million. The company's CEO expressed optimism about their partnership with Volkswagen Group. Despite this, MBLY shares traded lower by 4.28% at $38.71.
July 27, 2023 | 2:07 pm
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Despite beating Q2 expectations, Mobileye's shares traded lower. The company's CEO expressed optimism about their partnership with Volkswagen Group.
Mobileye's Q2 earnings beat expectations, which would typically lead to a positive market reaction. However, the company's shares traded lower, possibly due to the 1% YoY revenue decline. The CEO's bullish comments on the VW Group partnership could potentially boost investor confidence in the future.
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IMPORTANCE 80
RELEVANCE 100