Mobileye tumbles even as it tops Q2 results, boosts operating income forecast
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Mobileye (NASDAQ:MBLY) shares fell more than 6.5% on Thursday even as the autonomous driving technology company reported better-than-expected second-quarter results and boosted its full-year adjusted operating income forecast.
For the period ending July 1, Mobileye (MBLY) earned an adjusted 17 cents per share as revenue fell 1% year-over-year to $454M. Analysts were expecting adjusted earnings of 12 cents per share on $452.9M in revenue.
In addition, Mobileye (MBLY) boosted its adjusted operating income outlook for the full-year, as it now expects it to fall within a range of $600M to $631M, up from a prior view of $548M to $577M. 
The firm left its revenue forecast for the full-year unchanged, however, as it expects sales to be between $2.07B and $2.11B, with the mid-point below the $2.1B estimate.
Wells Fargo analyst Aaron Rakers said the stabilization in SuperVision volumes, along with expansion in the company's pipeline, advanced driver assistant systems, roadmap update are areas of "key focus."
Mobileye (MBLY) was partially spun out by parent company Intel (INTC) in October 2022. 
Intel (INTC) is slated to report its own second-quarter results after the close of trading.
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