Mobileye Swings to 4Q Profit as Sales Volume Grows
2023年1月26日 - 09:26PM
Dow Jones News
By Will Feuer
Mobileye Global Inc. swung to a profit in the fourth quarter as
sales volume grew.
The self-driving car company, which was spun out from Intel
Corp. last year, posted a fourth-quarter profit of $30 million, or
4 cents a share, compared with a loss of $53 million, or 7 cents a
share, in the same period a year earlier.
Stripping out one-time items, including stock-based compensation
and amortization, adjusted earnings came to 27 cents a share.
Analysts surveyed by FactSet were expecting adjusted earnings of 17
cents a share.
Revenue surged 59% to $565 million in the quarter from a year
earlier, topping the company's own guidance and the $530 million
expected by Wall Street, according to FactSet.
For 2023, the company expects revenue of $2.192 billion to
$2.282 billion. Analysts surveyed by FactSet are expecting 2023
revenue of $2.207 billion.
"As planned, we will continue to invest heavily (while
maintaining strong profitability) during 2023 to productize and
launch our advanced solutions as my confidence level on delivering
high returns to all stakeholders has never been higher," Chief
Executive Amnon Shashua said.
Shares rose almost 5% to $35.54 in the pre-market session.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
January 26, 2023 07:11 ET (12:11 GMT)
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