Mobileye Global Beats Revenue Estimates on Strong Self-Driving Tech Demand
Mobileye Global Inc. beat Wall Street expectations for first-quarter revenue on Thursday, benefiting from an increase in orders for its driver-assistance technology.
U.S.-listed shares of the company rose 2% in premarket trading.
The company reported revenue of $438 million for the quarter, compared with estimates of $435.2 million, according to data compiled by LSEG.
The company also reaffirmed its annual revenue forecast, with CEO Amnon Shashua saying that the outlook "was designed to account for some amount of macro deterioration in 2025."
"Based on strong revenue trends to-date and our own analysis of likely production impacts of the current tariff conditions... we continue to expect to deliver revenue and profitability within the guidance range," he said.
Mobileye reported a loss per share of 13 cents in the first quarter, compared with a loss of 27 cents, a year ago.
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