Mobileye Q3 Earnings: Revenue And EPS Beat, $2.7 Billion Impairment Hit, CEO Outlines Strategic Goals
Portfolio Pulse from Anusuya Lahiri
Mobileye Global Inc (NASDAQ: MBLY) reported a fiscal Q3 2024 revenue decline of 8% to $486 million, beating estimates. Adjusted EPS of $0.10 also surpassed expectations. Despite a $2.7 billion impairment charge, the stock rose 8.62% premarket. The company revised its FY24 revenue outlook slightly upwards.
October 31, 2024 | 1:04 pm
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Mobileye reported better-than-expected Q3 earnings with revenue and EPS beating estimates. Despite a significant $2.7 billion impairment charge, the stock rose 8.62% premarket. The company slightly revised its FY24 revenue outlook upwards.
Mobileye's Q3 earnings beat expectations, which is a positive indicator for investors. The stock's premarket rise of 8.62% reflects investor confidence despite the impairment charge. The upward revision of the FY24 revenue outlook further supports a positive short-term impact.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100