Autonomous Driving Tech Provider Mobileye CEO Credits SuperVision Roll-out and New Partnerships for Stellar Q3 Earnings, Stock Gains
Portfolio Pulse from Anusuya Lahiri
Mobileye Global Inc (NASDAQ:MBLY) reported a Q3 FY23 revenue growth of 18% YoY to $530 million, beating the consensus of $527.8 million. Adjusted EPS of $0.22 also beat the consensus of $0.17. The company's CEO attributed the results to the operating leverage and positive feedback to the SuperVision navigate on pilot software roll-out. Mobileye expects FY23 revenue of $2.065 billion - $2.090 billion. MBLY shares traded higher by 3.03% premarket.
October 26, 2023 | 12:55 pm
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Mobileye reported strong Q3 FY23 results, beating revenue and EPS consensus. Positive feedback on SuperVision roll-out and new partnerships were cited as contributing factors. The company's shares traded higher by 3.03% premarket.
Mobileye's strong Q3 FY23 results, which beat consensus estimates, along with positive feedback on its SuperVision roll-out and new partnerships, are likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100