Mobileye Global Q3 Loss Widens

(RTTNews) - Mobileye Global Inc. (MBLY) reported Wednesday that net loss for the third quarter widened to $45 million or $0.06 per share from $26 million or $0.03 per share in the prior-year quarter.

Excluding items, adjusted net income for the quarter was $114 million, compared to $107 million in the year-ago quarter.

Revenue for the quarter grew 38 percent to $450 million from $326 million in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.12 per share on revenues of $447.04 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2022, the company expects revenues between $527 million and $545 million for the fourth quarter as well as between $1.83 billion and $1.85 billion for the full-year 2022.

The Street is looking for revenues of $483.72 million for the quarter and $1.78 billion for the year.