Car owners who want their vehicles to drive them around have been burned by years of overpromising by the auto industry. There are no truly self-driving cars. Autonomous-driving technology is getting better, though, and it’s being adopted by more auto makers. Mobileye Global’s earnings and earnings guidance is proof.
Thursday, the supplier of advanced driver assistance hardware and software reported better-than-expected fourth-quarter numbers. Mobileye (ticker: MBLY) announced adjusted earnings per share of 27 cents on sales of $565 million. Wall Street was looking for 17 cents a share on sales of $533 million.