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Posted:

3:40 PM PDT · July 23, 2026

Image Credits:Bridget Bennett / Bloomberg / Getty Images Mobileye founder and CEO Amnon Shashua plans to step down from the top leadership post after nearly three decades, just as the company pushes into robotaxis and humanoid robots.

Shashua will remain CEO until Mobileye hires a replacement, according to a regulatory filing Thursday.

Mobileye got its start making computer vision chips based on Shashua’s academic research at Hebrew University in Israel, and grew into a major supplier of the chips that power automotive safety and driver-assistance features. It had the largest IPO in Israel’s history, was acquired in 2017 by Intel for $15.3 billion, then spun back out as a publicly traded company in 2022, though Intel remains its largest shareholder.

Under Shashua, Mobileye also moved beyond selling chips to automakers and began building its own systems that handle autonomous driving, which it now supplies to Volkswagen and its MOIA subsidiary.

In January, the company acquired Shashua’s humanoid robotics startup Mentee Robotics for $900 million, which Shashua called part of “Mobileye 3.0,” the next phase of the business focused on robotics and automotive AI.

Mobileye also said in June it would expand beyond its supplier status to launch its own robotaxi service in a U.S. city in 2027.

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Item 1 of 2 Mobileye's CEO Amnon Shashua speaks during a news conference for Mobileye driverless technology at the Nasdaq Market site in New York, U.S., July 20, 2021. REUTERS/Jeenah Moon

[1/2]Mobileye's CEO Amnon Shashua speaks during a news conference for Mobileye driverless technology at the Nasdaq Market site in New York, U.S., July 20, 2021. REUTERS/Jeenah Moon Purchase Licensing Rights, opens new tab

CompaniesJuly 23 (Reuters) - Mobileye Global (MBLY.O), opens new tab founder Amnon Shashua plans to step down as chief executive officer after the appointment of a successor, the autonomous ​driving technology maker said on Thursday, as it reported second-quarter ‌results that topped Wall Street estimates.

Mobileye said its board would hire an executive search firm and conduct a comprehensive process to select a new CEO. Shashua will ​remain a director and has been offered the role of ​chairman once a successor is appointed.

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The Israeli company also reported ⁠second-quarter revenue of $508 million, beating analysts' estimates of $481.24 million, according to LSEG ​data.

The ADAS hardware maker's shares were up about 8% in premarket trading.

Mobileye ​said demand for next-generation ADAS remains strong, highlighting a new high-volume design win with Stellantis (STLAM.MI), opens new tab, days after the carmaker became the fifth of the world's 10 largest carmakers ​to contribute data to its Road Experience Management (REM) platform.

Automakers have ramped up ​focus on equipping their vehicles with advanced driver-assistance systems, boosting demand for microprocessors made ‌by ⁠Mobileye, which works with more than 50 original equipment manufacturers, including Ford (F.N), opens new tab and Volkswagen (VOWG.DE), opens new tab.

The company reported strong momentum in Mobileye's core business driving a 3% increase in system shipments during the quarter.

It said the increase was ​partly offset by ​lower average selling ⁠prices for its EyeQ chips mainly due to higher-than-expected export volumes from Chinese automakers, which typically buy lower-priced ​chips.

"The core business continued its strong momentum in Q2 ​as ⁠we focus our development and execution efforts on a number of advanced product launches in late 2026 and throughout 2027," Shashua said.

The company also narrowed ⁠its ​2026 revenue forecast range to $1.97 billion to $2.02 ​billion, raising the midpoint by $20 million. Adjusted earnings per share of 19 cents also topped estimates ​of 6 cents.

Reporting by Rashika Singh in Bengaluru; Editing by Vijay Kishore

Our Standards: The Thomson Reuters Trust Principles., opens new tab

The market expects Mobileye Global (MBLY - Free Report) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.

The earnings report, which is expected to be released on July 23, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis maker of driver-assistance systems and autonomous driving technologies is expected to post quarterly earnings of $0.05 per share in its upcoming report, which represents a year-over-year change of -61.5%.

Revenues are expected to be $484 million, down 4.4% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Mobileye?For Mobileye, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -6.25%.

On the other hand, the stock currently carries a Zacks Rank of #4.

So, this combination makes it difficult to conclusively predict that Mobileye will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Mobileye would post earnings of $0.08 per share when it actually produced earnings of $0.12, delivering a surprise of +50.00%.

Over the last four quarters, the company has beaten consensus EPS estimates three times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Mobileye doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.