Mobileye Shares Fall Following Third Quarter Results and Guidance Update
Mobileye (MBLY) shares declined 4.5% in premarket trading following the release of its third-quarter financial results for the period ending September 26. The company reported an adjusted earnings per share of $0.11, while total revenue experienced a year-over-year decrease of 2.4%. Despite the decline in revenue and stock price, Mobileye highlighted strength in its SuperVision autonomous driving software platform. The company also provided updated guidance for the full fiscal year as it continues to navigate shifting market dynamics in the automotive technology sector.
Tickers: $MBLY
Topics: earnings report guidance revision revenue decline stock price movement