Advertisement

Mobileye Stock Slides After Earnings. It's Working Through Inventory Issues.

Mobileye Stock Slides After Earnings. It's Working Through Inventory Issues.

Mobileye Global stock is sagging after the provider of autonomous driving systems posted a sharp drop in revenue. The company continues to work through excessive customer inventory. Mobileye warned in January that its March quarter results would be down about 50% due to higher-than-normal inventories of the company’s EyeQ chips held by automakers.