Latest news with #AmnonShashua
Time of India
5 days ago
- Automotive
- Time of India
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 over 4 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. "While tariffs remain in place, the actual impact on production and consumer demand appears rather limited," Mobileye executives said on a post-earnings conference. Company executives also said there are no indications from customers that fourth-quarter shipment volumes will weaken, easing concerns about a potential slowdown in demand for vehicles equipped with Mobileye technology despite the threat of higher manufacturing costs due to auto tariffs. 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. The company reported revenue of $506 million in the second quarter, beating estimates of $480.9 million, according to data compiled by LSEG.
Reuters
5 days ago
- Automotive
- Reuters
Mobileye raises annual revenue view on strong self-driving chip demand
July 24 (Reuters) - Self-driving technology firm Mobileye Global (MBLY.O), opens new tab 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% 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 (PSHG_p.DE), opens new tab 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. The company reported revenue of $506 million in the second quarter, beating estimates of $480.9 million, according to data compiled by LSEG.
CNA
5 days ago
- Automotive
- 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.
Reuters
5 days ago
- Automotive
- Reuters
Mobileye raises annual revenue forecast on autonomous driving chip demand
July 24 (Reuters) - Self-driving technology firm Mobileye Global (MBLY.O), opens new tab 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% 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.
Yahoo
5 days ago
- Automotive
- Yahoo
Mobileye raises annual revenue forecast on autonomous driving chip demand
(Reuters) -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% 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.
