Mobileye Raises Annual Forecast But Stock Falls Amid Mixed Earnings
Translated & summarized from Globes by baba
Mobileye's third-quarter revenue exceeded expectations at $492 million, but its net profit of 11 cents per share missed analyst forecasts. The company raised its annual revenue outlook to $1.97-$2.02 billion, despite its stock falling. Founder and CEO Amnon Shashua previously announced his intention to step down from his CEO role.
The story in 5 lines · by baba
- Mobileye's Q3 revenue of $492 million beat expectations, but profit of 11 cents per share missed forecasts.
- The company raised its annual revenue forecast to $1.97-$2.02 billion.
- Mobileye's stock fell despite the raised annual forecast and revenue beat.
- Founder and CEO Amnon Shashua plans to step down from his CEO role.
- Mobileye is valued at $6 billion on the Nasdaq, with Intel as the controlling shareholder.
Mobileye reported its third-quarter 2026 financial results, with revenues reaching $492 million, surpassing analyst expectations of $477 million. However, the company's net profit was 11 cents per share, falling short of the 28 cents analysts had predicted.
Despite the earnings miss, Mobileye raised its annual revenue forecast to between $1.97 billion and $2.02 billion, citing expected improvements in profitability and a further reduction in operating losses. This comes after the company's stock had previously fallen to an all-time low, though it has seen a slight recovery in recent days.
In a significant leadership change, founder and CEO Professor Amnon Shashua announced his intention to step down from his CEO role during the second-quarter earnings call. He is expected to remain on Mobileye's board, and has been offered the position of chairman, though he has not yet made a final decision.
Mobileye is traded on the Nasdaq with a market capitalization of $6 billion, and Intel holds controlling interest in the company. The article also briefly mentions unrelated news about Microsoft's strong earnings and Alphabet missing profit forecasts, as well as a real estate development called ALFA.
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