Mobileye Shares Fall 4.5% as Revenue Guidance Midpoint Rises $13 Million

Mobileye Global Inc. shares fell 4.5% in premarket trading Thursday after the autonomous-driving software maker raised its full-year revenue guidance midpoint by $13 million alongside its third-quarter results. Revenue for the period ended Sept. 26 was $492 million, down 2.4% year over year but above the $476.8 million estimate. Adjusted earnings were 11 cents per share, topping the 10-cent estimate. The guidance increase reflected higher-than-expected deliveries of Mobileye’s SuperVision product and the company passing on higher memory costs. John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.

Source: TokenPost