Mobileye Wows With Earnings
Mobileye released a better-than-expected third-quarter earnings report before the markets opened on Tuesday.
Mobileye N.V. (NYSE: MBLY) released its third-quarter earnings report before the markets opened on Tuesday. The company had $0.15 in earnings per share (EPS) on $70.6 million in revenue, which compares to Thomson Reuters consensus estimates of $0.13 in EPS on $67.36 million in revenue. The same period from the previous year had $0.04 in EPS on $34.68 million in revenue.
Within total revenue, original equipment manufacturing (OEM) revenue was $60.8 million, compared to $28.8 million last year. At the same time, after market revenue contributed the remaining $9.8 million of total revenue for the third quarter of 2015 compared to $5.9 million a year ago.
On the books, Mobileye had cash, equivalents, restricted bank deposits and marketable securities totaling $182.50 million, compared to $375.09 million at the end of December 2014.
Ziv Aviram, co-founder, president and CEO of Mobileye, commented on earnings:
Our third quarter results highlight the growing interest from OEMs, consumers and regulatory agencies to include advanced safety features in vehicles. We launched new programs with autonomous emergency braking, a feature being standardized around the world, and recently released semantic free-space and holistic path prediction, the most innovative vision technologies for road scene interpretation. Our commitment to innovation, ability to add successful program launches and provide best-in-class technologies for autonomous driving further strengthens our leadership in the ADAS and autonomous driving market.
Shares of Mobileye closed Monday at $45.54, with a consensus analyst price target of $73.00 and a 52-week trading range of $32.41 to $64.48. Following the release of the earnings report, shares were initially up about 4% at $47.35 in early trading indications.
ALSO READ: 3 Tech Stocks to Own for a Possible End of the Year Rally
Contact [email protected] for any questions or corrections.
Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
