Mobileye Q4 Earnings Surpass Expectations, Decrease Y/Y

Mobileye Global Inc. (MBLY) reported fourth-quarter 2024 adjusted earnings per share of 13 cents, which beat the Zacks Consensus Estimate of 12 cents. However, earnings were lower than 28 cents per share recorded in the year-ago quarter.Total revenues amounted to $490 million, beating the Zacks Consensus Estimate of$480 million. However, the metric was down 23% year over year. This was primarily due to a 20% reduction in EyeQ SoC volumes. The decrease stemmed from the previously disclosed significant inven ...