Mobileye Reports Widened Q1 Loss Amid Revenue Growth
Mobileye reported a significant increase in its first-quarter net loss to $3.81 billion, despite a 27% rise in revenue to $558 million. The loss was primarily driven by a $3.78 billion non-cash goodwill impairment from its acquisition by Intel in 2017. The company raised its full-year revenue guidance and highlighted strong demand for its EyeQ SoC chips.
Topics: acquisition goodwill impairment guidance update loss revenue growth share repurchase