Mobileye's Q2 revenue beats estimates, cuts annual operating loss estimate
Views : 108
Update time : 2023-07-29 11:56:59
Intel-owned self-driving company Mobileye Global said it expects to narrow its full-year operating loss as strong demand for the company's driver-assistance technology helped it post better-than-expected quarterly revenue, Reuters reported.
Mobileye, whose customers include BMW, Nissan and Volkswagen, benefited from strong demand for its technology in North America and Europe, which helped offset a weak performance in China.
Mobileye now expects an annual operating loss of $98 million to $129 million, compared with its previous forecast of a loss of $166 million to $195 million. However, its revenue forecast has not been revised upward.
Michael Schulman, chief investment officer at Running Point Capital, said, "Mobileye's results were mostly positive, but ...... I think some investors reduced their positions because of the good news. " Mobileye reiterated its annual revenue forecast range of $2.07 billion to $2.11 billion.
Israel-based Mobileye reported second-quarter revenue of $454 million, compared with analysts' expectations of $450.6 million, according to Refinitiv.
Mobileye CEO Amnon Shashua said, "Future business highlights in the quarter included tangible proof of our deep relationship with the Volkswagen Group and meaningful collaborations to expand our advanced product portfolio to nine large OEMs (original equipment manufacturers)."
Mobileye said in May that Porsche and Volkswagen Commercial Vehicles would work with Mobileye to integrate its self-driving software into future models.
Gross margins expanded to 49 percent in the quarter from 45 percent in the previous three months, thanks to a more than 10 percent decline in total operating expenses from a year earlier. On an adjusted basis, Mobileye earned 17 cents per share, beating estimates of 12 cents. Mobileye, in which Intel retains a majority stake, went public on the Nasdaq last year, raising $861 million in an initial public offering. Intel acquired Mobileye in 2017 for $15 billion.
The LDK220 series of low-dropout linear regulators (LDOs) is a high-performance device designed specifically for low-power consumption and high-precision voltage regulation, widely used in scenarios such as consumer electronics, industrial control, and po
Xilinx Spartan®-7 FPGA Family stands as a defining solution in the mid-range FPGA landscape, blending high performance, energy efficiency, and cost-effectiveness to redefine versatility for industrial, IoT, and consumer electronics applications. Built on
The Altera FLEX series was more than a lineup of FPGAs—it was a blueprint for how programmable logic devices could evolve to meet diverse market needs. The FLEX 8000 laid the architectural groundwork, the FLEX 10K redefined functionality with embedded mem
Among TI standout offerings, the LM4765 and LM4766 are dual-channel amplifiers designed to cater to diverse audio needs—from compact setups to high-fidelity systems. While sharing the same product lineage, these chips differ significantly in power output,
