Stock Track | Mobileye Soars 9% in Pre-Market on Stellar Q3 Earnings Beat

Stock Track10-31

Shares of Mobileye Global Inc. (MBLY) are soaring in pre-market trading on Wednesday, surging 8.78% after the semiconductor company reported better-than-expected results for the third quarter of 2024.

The autonomous driving technology firm posted adjusted earnings per share of $0.10 for Q3, beating Wall Street's expectations of $0.09. Revenue for the quarter came in at $486 million, exceeding analysts' estimates of $472.1 million.

Mobileye, which went public in October 2022 after being spun off from Intel Corp, specializes in advanced driver-assistance systems and self-driving technologies for automakers. The company has been benefiting from robust demand for its products as more car manufacturers adopt autonomous driving features.

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