Mobileye Global Inc. (MBLY) shares are plummeting over 9% in the pre-market trading session on Thursday, following the release of the company's fourth-quarter 2024 earnings results.
While Mobileye reported better-than-expected revenue of $490 million (vs. $477.8 million estimated) and adjusted operating income of $101 million (vs. $85.1 million estimated), the company's bottom line figures fell short of expectations.
Mobileye reported an adjusted net income of $107 million, or $0.13 per share, which was slightly above the consensus estimate of $0.11 per share. However, the company also reported a basic net loss of $0.09 per share for the quarter, disappointing investors.