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Mobileye profit misses consensus by 42.5% in Q3

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Mobileye profit misses consensus by 42.5% in Q3

Mobileye NV said its normalized net income for the third quarter amounted to 7 cents per share, compared with the S&P Capital IQ consensus estimate of 13 cents per share.

The per-share result swung to a profit from the prior-year loss of 5 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $17.7 million, compared with a loss of $7.3 million in the year-earlier period.

The normalized profit margin climbed to 25.0% from negative 21.1% in the year-earlier period.

Total revenue climbed 103.7% year over year to $70.6 million from $34.7 million, and total operating expenses decreased year over year to $43.3 million from $43.8 million.

Reported net income came to $23.9 million, or 10 cents per share, compared with a loss of $13.1 million, or a loss of 9 cents per share, in the prior-year period.