Mobileye (MBLY) misses estimates for Q1 earnings, revenue; shares slip
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Mobileye Releases First Quarter 2024 Results and Provides Business Overview
April 25, 2024 6:30 AM EDTRevenue decreased 48% year over year to $239 million in the first quarter due to the significant drawdown of inventory at our Tier 1 customers announced earlier this year. Diluted EPS (GAAP) was $(0.27) and Adjusted Diluted EPS (Non-GAAP) was $(0.07) in the first quarter. Inventory consumption and the expected quarterly cadence of EyeQTM SoC deliveries over the course of 2024 remains on-track with our prior guidance. Announcement by Volkswagen Group of a wide-ranging production award for our advanced products in the first quarter led to an... More
