By Rob Curran
Shares of Israeli autonomous-driving technology maker Mobileye Global fell premarket after it slipped into the red in the fourth quarter and warned of lackluster revenue growth in 2025.
The stock was down 8.1% to $14.71 in premarket trading.
Mobileye on Thursday said it swung to a fourth-quarter loss of $71 million, or 9 cents a share, from a profit of $63 million, or 8 cents a share, a year earlier. On average, Wall Street analysts anticipated a loss of 4 cents a share, according to FactSet.
Revenue fell 23% to $490 million, which was higher than the average analyst target of $478.7 million.
During Tesla's earnings call Wednesday, Chief Executive Elon Musk spoke about the prospect of fully automated cars driving on U.S. roads this year.
Mobileye's technology for enabling computer vision on vehicles has been purchased by BMW, Nissan and Volkswagen, among others, according to the company.
For 2025, the company forecast revenue in a range between $1.69 billion and $1.81 billion, compared with $1.65 billion in 2024 and more than $2 billion in 2023.
Mobileye was formerly owned by chip giant Intel.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
January 30, 2025 08:31 ET (13:31 GMT)
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