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21 hours ago
- CNA
Mobileye raises annual revenue view on strong self-driving chip demand
Self-driving technology firm Mobileye Global raised its forecast for fiscal 2025 revenue on Thursday, anticipating a rise in orders for its autonomous driving chips as customers clear existing inventory. Shares of the company rose around 6 per cent in premarket trading. Automakers have largely resumed placing orders for self-driving hardware after an inventory surplus — caused by COVID-19-related supply concerns some years ago — led to a prolonged slump in demand. "Stronger visibility on industry supply-demand alignment since late-April supports our decision to raise the full-year outlook, while we continue to maintain a conservative stance given the broader macro environment," said Mobileye CEO Amnon Shashua. He adds that Mobileye will see an inflection point in 2027, as upcoming driver assistance products are expected to give a boost to revenue growth. U.S. government tariff announcements on vehicles and parts earlier this year shook the automotive industry, leading automakers, including some Mobileye customers — such as Porsche and Audi — to adjust supply chains and mitigate business impacts. In April, Mobileye had said that it would be relatively insulated from the tariffs, since its customers are the importers of its driver-assistance chips. However, uncertainty persists in the wider industry, as rising manufacturing costs for automakers could lead to short-term production cuts and affect demand for advanced driving technology provided by Mobileye, analysts have noted. Mobileye now expects annual revenue between $1.77 billion and $1.89 billion, compared with its previous forecast of $1.69 billion to $1.81 billion.
CNA
a day ago
- CNA
Mobileye raises annual revenue forecast on autonomous driving chip demand
Self-driving technology firm Mobileye Global raised its forecast for fiscal 2025 revenue on Thursday, anticipating a rise in orders for its autonomous driving chips as customers clear existing inventory. Shares of the company rose more than 8 per cent in premarket trading. Automakers have largely resumed placing orders for self-driving hardware after an inventory surplus — caused by COVID-19-related supply concerns several years ago — led to a prolonged slump in demand. Mobileye now expects annual revenue between $1.77 billion and $1.89 billion, compared with its previous forecast of $1.69 billion to $1.81 billion. "Stronger visibility on industry supply-demand alignment since late-April supports our decision to raise the full-year outlook, while we continue to maintain a conservative stance given the broader macro environment," said Mobileye CEO Amnon Shashua.
CNA
a day ago
- CNA
AI-powered ads to drive growth for global entertainment and media industry, PwC says
-Growing use of artificial intelligence in advertising is expected to boost the global entertainment and media industry's revenue to $3.5 trillion by 2029, according to PwC. The industry is projected to record a compound annual growth rate of 3.7 per cent until 2029, the consulting firm said in its Global Entertainment & Media Outlook 2025-29 on Thursday. The growth will also be supported by non-digital categories such as live events. WHY IT'S IMPORTANT Economic uncertainty from inflation and shifting trade policies are prompting consumers to cut back on non-essential spending, pressuring entertainment subscriptions, movie outings and digital media. At this time, advertising is emerging as a significant driver of revenue growth for the industry at-large, PwC said. BY THE NUMBERS Digital formats, which accounted for 72 per cent of overall ad revenue in 2024, will rise to 80 per cent in 2029, with new technologies including AI and hyper-personalization expected to drive more end-market uptake, the report said. Ad revenue from connected TV is expected to rise to $51 billion in 2029, driven by higher digital engagement, PwC said. The industry is also set to benefit from strong video games revenue, which is forecast to grow to about $300 billion in 2029. KEY QUOTES "There's certain general macroeconomic pressures on individuals, families and advertising starts to subsidize a lot of that," said Bart Spiegel, global entertainment and media leader at PwC U.S. The industry "has always been at the forefront of technological innovation, but companies will need to remain nimble and proactive to embrace the future and satisfy consumers in an ecosystem that rewards creativity and tailored content," Spiegel said.
