Mobileye FY24 Outlook: Revenue $1.830B-$1.960B (Vs. $2.59B Est.), Sees Q1 Revenue To Be Down 50% Y/Y
Portfolio Pulse from Benzinga Newsdesk
Mobileye has provided its FY24 outlook, projecting revenues of $1.830B-$1.960B, which is significantly lower than the estimated $2.59B. The company also expects its Q1 revenue to decrease by 50% year-over-year.
January 04, 2024 | 12:04 pm
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Mobileye's FY24 revenue forecast falls short of expectations, with a significant projected decline in Q1 revenue by 50% Y/Y.
The projected revenue for FY24 is substantially below analyst estimates, indicating potential challenges ahead for Mobileye. This negative outlook, especially the expected 50% drop in Q1 revenue year-over-year, is likely to be viewed unfavorably by investors, potentially leading to a decrease in stock price in the short term.
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