Mobileye Beats Profit And Revenue Estimates In Latest Quarter

By Ciara LinnaneMarketsMarketWatch Pulse

Mobileye N.V. said Thursday it had net income of $33.5 million, or 14 cents a share, in the first quarter, up from $21.9 million, or 9 cents a share, in the year-earlier period. Adjusted per-share earnings came to 25 cents, a penny ahead of the FactSet consensus of 24 cents. The self-driving technology company said revenue rose to $124.7 million fro $75.2 million, also ahead of the FactSet consensus of $119 million. The company, which is being acquired by Intel Corp. , said it added revenue visibility "with new ADAS design wins, bolstered alliances with existing and new partners, and took a major step forward with our proprietary high-definition mapping product (REM(TM)) by signing definitive collaboration agreements with several major automakers." Shares rose 0.9% premarket.

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