Autonomous Vehicle News
Mobileye’s valuation of $16.7 billion when it went public last October was considered to be disappointing by many onlookers. Mobileye has a market cap of over $34 billion entering trading on Monday, and a $50 billion valuation doesn’t look like a far-fetched dream any more. ( Mobileye )Mobileye announced a couple of weeks ago that its forecast for fiscal 2023 revenue is higher than analysts' projections and delivered better-than-expected earnings in the fourth quarter. Mobileye, majority owned by Intel, forecasts full-year 2023 revenue between $2.19 billion and $2.28 billion. Revenue jumped 59% to $565 million in the final quarter of 2022, beating analysts' estimate of $535.82 million.