{"id":1919980,"date":"2023-04-27T08:56:54","date_gmt":"2023-04-27T12:56:54","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mobileye-lowers-annual-revenue-forecast\/"},"modified":"2023-04-27T08:57:50","modified_gmt":"2023-04-27T12:57:50","slug":"mobileye-lowers-annual-revenue-forecast","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mobileye-lowers-annual-revenue-forecast\/","title":{"rendered":"Mobileye lowers annual revenue forecast"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">10<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fmobileye-lowers-annual-revenue-forecast%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1919980&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Mobileye Global Inc Lowers Annual Revenue Forecast Due to Increased Competition<\/h2>\n<p>Mobileye Global Inc, a leading autonomous driving technology company, has revised its annual revenue forecast downwards due to rising competition from start-ups and automakers developing their own driver-assistance products. This news caused a 13% drop in the company&#8217;s shares before the bell.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">\n\t<script>googletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });<\/script>\n<\/div>\n<p>The company now expects revenue to be between $2.07 billion and $2.11 billion, down from the previous estimate of $2.19 billion to $2.28 billion. This is due to the intensifying competition in the assisted driving market, with Nvidia and Qualcomm also trying to make inroads into the market.<\/p>\n<p>Investors are also concerned about the timeline for autonomous vehicle deployment, which has been delayed due to tough regulatory scrutiny and slow commercial adoption of the technology.<\/p>\n<p>Despite this setback, Mobileye posted revenue of $458 million in the first quarter, beating analysts&#8217; estimates of $454.7 million.<\/p>\n<h3>Other Business News:<\/h3>\n<ul>\n<li>Kevin McCarthy puts the ball in Joe Biden\u2019s court, as the House passes a Debt Ceiling Resolution.<\/li>\n<li>The European Commission has proposed rules to govern patents increasingly in demand for technologies used.<\/li>\n<li>Indian IT services provider Wipro Ltd reported a dip in quarterly profit amid a turbulent macro-economic environment.<\/li>\n<li>Russian tech giant Yandex reported a 54% jump in first-quarter revenue to 163.3 billion roubles ($2 billion).<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) \u2013 Mobileye Global Inc on Thursday lowered its forecast for annual revenue, hurt by increasing competition from start-ups as well as automakers developing their own driver-assistance products. Shares of the Jerusalem, Israel-based company fell 13% in trading before the bell. The autonomous driving technology company now expects revenue to range between $2.07 billion and<\/p>\n","protected":false},"author":66,"featured_media":1919981,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[3888,16788,9849,25268,14486],"class_list":["post-1919980","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann","tag-annual","tag-forecast","tag-lowers","tag-mobileye","tag-revenue"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1919980","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1919980"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1919980\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1919981"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1919980"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1919980"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1919980"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}