Mobileye Continues to Grow With Earnings Beat

By Chris Lange Published Aug 6, 10:05AM EDT

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Mobileye N.V. (NYSE: MBLY) reported its second-quarter financial results Thursday before the markets opened as $0.10 in earnings per share (EPS) on $52.8 million in revenue. The Thomson Reuters consensus estimates were $0.08 in EPS on $47.89 million in revenue.

Compared to the second quarter from last year, EPS doubled to its current level from $0.05. Revenue increased 57% from $33.65 million at the same time. Within total revenue, original equipment manufacturing revenue was $43.6 million, compared to $28.8 million in the prior-year period. After market revenue contributed the remaining $9.2 million of total revenue for the second quarter of 2015, compared to $4.9 million.

The company did not give any guidance for the third quarter but the consensus estimates are $0.11 in EPS on $57.69 million in revenue.

At the end of the quarter, Mobileye had cash and cash equivalents, restricted bank deposits and marketable securities of $422.2 million, compared to $426.2 million at the end of the first quarter. The company generated $22.8 million in free cash flow for the 2015 second quarter, compared to $20.0 million for the comparable 2014 quarter.

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Ziv Aviram, co-founder, president and CEO of Mobileye, commented on earnings:

The second quarter demonstrated continued strong performance, highlighted by new EyeQ3 launches and increased demand for existing programs. During the quarter, we saw further support for regulatory implementation of ADAS and continued customer interest in the adoption of autonomous driving. Looking forward, Mobileye will continue to develop innovative technologies to maintain our leadership position and benefit from the accelerating autonomous industry trends.

Shares of Mobileye closed Wednesday at $59.45, in a 52-week trading range of $31.11 to $63.17. In early trading on Thursday, shares of Mobileye were down 6.5% at $55.56. The stock has a consensus analyst price target of $66.00.

About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.