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Mobileye profit misses consensus by 56.3% in Q1

Mobileye NV said its normalized net income for the first quarter amounted to 3 cents per share, compared with the S&P Capital IQ consensus estimate of 7 cents per share.

The per-share result swung to a profit from the prior-year loss of 30 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $7.7 million, compared with a loss of $9.5 million in the prior-year period.

The normalized profit margin climbed to 16.8% from negative 26.6% in the year-earlier period.

Total revenue climbed 27.9% on an annual basis to $45.6 million from $35.6 million, and total operating expenses decreased 35.6% from the prior-year period to $32.9 million from $51.1 million.

Reported net income came to $9.5 million, or 4 cents per share, compared with a loss of $19.6 million, or a loss of 61 cents per share, in the year-earlier period.