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Mobileye Global Inc (NASDAQ:MBLY) reported a fiscal first-quarter 2024 revenue decline of 48% year-on-year to $239.00 million, beating the consensus of $231.56 million. Adjusted EPS of $(0.07) missed the consensus loss of $(0.06). “The financial results in the first quarter reflect a supply chain reset as the excess inventory held by our customers is consumed. We are encouraged that the inventory drawdown and associated recovery in revenue appears to be on-track to what we laid out in January,”

Mobileye reported Q4 2023 revenue growth of 13% YoY but missed consensus. Adjusted EPS beat expectations. Gross margin expanded, operating margin increased. CEO highlighted design wins projected at $7 billion of incremental future estimated revenue for a second consecutive year, at elevated ASP.

Mobileye Global Inc (NASDAQ: MBLY) reported a second-quarter FY23 revenue decline of 1% year-on-year to $454 million, beating the