11:15 AM EDT, 08/01/2024 (MT Newswires) -- Mobileye Global ( MBLY ) shares tumbled nearly 19% in recent Thursday trading after the company reported lower Q2 results and cut its full-year revenue outlook.

The company reported earlier Q2 adjusted earnings of $0.09 per diluted share, down from $0.17 a year earlier. Analysts polled by Capital IQ expected $0.08.

Revenue for the quarter ended June 29 was $439 million, down from $454 a year earlier. Analysts surveyed by Capital IQ expected $423.6 million.

The company cut its 2024 revenue guidance to a range of $1.60 billion to $1.68 billion from $1.83 billion to $1.96 billion previously. Analysts surveyed by Capital IQ expect $1.87 billion.

Price: 17.06, Change: -3.95, Percent Change: -18.79