Mobileye falls on mixed Q1 results

Israeli advanced driving assistance systems (ADAS) company Mobileye Global Inc. (Nasdaq: MBLY) has reported mixed financial results for the first quarter of 2024. The company reported non-GAAP adjusted diluted earnings per share of minus $0.07 on revenue of $231.6 million, down 48% from $458 million in the corresponding quarter of 2023.

The results were in line with the profit warning issued at the start of the year when Mobileye, owned by Intel Corp. and led by CEO Prof. Amnon Shashua, said it expected revenue to be down 50% in the first quarter of 2024 to $229 million due…