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Mobileye profit misses consensus by 58.2% in Q1

Mobileye NV said its normalized net income for the first quarter amounted to 10 cents per share, compared with the S&P Capital IQ consensus estimate of 24 cents per share.

EPS increased 54.5% year over year from 7 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $24.4 million, an increase of 55.8% from $15.6 million in the year-earlier period.

The normalized profit margin fell to 19.5% from 20.8% in the year-earlier period.

Total revenue increased 65.8% on an annual basis to $124.7 million from $75.2 million, and total operating expenses climbed 70.3% from the prior-year period to $87.7 million from $51.5 million.

Reported net income rose 56.9% year over year to $33.4 million, or 14 cents per share, from $21.3 million, or 9 cents per share.