Mobileye Global Updates Its FY23 Guidance: Now Sees Revenues Of $2.065B-$2.09B (Prior $2.065B – 2.114B) Vs. $2.1B Consensus, And Adjusted Operating Income Of $648M-$665M (Prior $600M-$631M)
Portfolio Pulse from Benzinga Newsdesk
Mobileye Global has updated its FY23 guidance, now expecting revenues of $2.065B-$2.09B, down from the previous range of $2.065B-$2.114B. The company also anticipates an adjusted operating income of $648M-$665M, up from the prior $600M-$631M. The changes are due to a 0.6% reduction in expected revenue and lower than expected operating expenses in Q3 and Q4 of 2023.
October 26, 2023 | 10:44 am
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Mobileye Global has revised its FY23 guidance, with a slight decrease in expected revenues but an increase in adjusted operating income. This is due to lower than expected operating expenses in Q3 and Q4 of 2023.
The company's revised guidance indicates a slight decrease in expected revenues, which could negatively impact the stock. However, the increase in adjusted operating income due to lower operating expenses could offset this, leading to a neutral short-term impact on the stock.
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IMPORTANCE 80
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