Mobileye Global (NASDAQ:MBLY) shares surged nearly 10% in premarket trading on Thursday after the autonomous driving technology company reported second-quarter earnings well above Wall Street expectations and increased its revenue and profit guidance for the full year.
The stronger outlook was supported by solid operational performance and the financial benefits of Israel’s new research and development incentive programme
Earnings and revenue exceed expectations Mobileye reported adjusted earnings of $0.19 per share for the second quarter, comfortably ahead of analysts’ consensus estimate of $0.06. Revenue totalled $508 million, exceeding market expectations of $482.2 million and remaining broadly unchanged from the same period last year. Following the results, the company’s shares climbed almost 10% in premarket trading.
Company increases full-year guidance Mobileye raised its full-year 2026 revenue forecast to between $1.97 billion and $2.02 billion. The midpoint of the updated outlook, $1.995 billion, is above analysts’ consensus estimate of $1.93 billion and represents an increase of $20 million compared with the company’s previous guidance. The revised forecast implies annual revenue growth of between 4% and 7%.