ReutersReuters

Mobileye falls after quarterly loss widens, revenue plunges

** Shares of Israeli automotive tech firm Mobileye Global MBLY fall 4.6% to $29.79 in early trading

** Mobileye, which is owned by Intel INTC, says net loss widened to $218 mln in Q1 from $79 mln a year ago, weighed down by slump in sales

** Co's Q1 revenue fell about 48% year-on-year to $239 million vs analysts' average estimate of $231.6 million - LSEG data

** MBLY posts adjusted loss per share of 7 cents vs estimate of a loss of 6 cents per share

** Up to last close, stock was down ~28% YTD

Login or create a forever free account to read this news