UPDATE 1-Mobileye raises annual revenue forecast on strong demand

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Mobileye Global, Inc. Class A

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April 23 (Reuters) - Mobileye Global MBLY.O raised its annual revenue forecast on Thursday, buoyed by steady demand for its advanced driver-assistance systems, sending the company's shares up more than 13% in premarket trading.

The company has benefited from car manufacturers restocking their supplies after an inventory glut last year, and a growing shift toward advanced self-driving technologies is also driving demand for its computer vision chips and software.

Mobileye said its first-quarter results reflect a stronger-than-expected start to 2026, after its ADAS technologies were also picked by Indian automaker Mahindra & Mahindra MAHM.NS for at least six upcoming models.

The company reported revenue of $558 million for the first quarter ended March, compared with analysts' average estimate of $515.6 million, according to data compiled by LSEG.

It now expects 2026 revenue to be between $1.94 billion and $2.02 billion, compared with its previous forecast of $1.90 billion and $1.98 billion. Analysts on average were expecting revenue of $1.95 billion.


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