Mobileye NV Beats Estimates, McDonald’s Corporation Comps Miss

Mobileye (MBLY) and McDonald’s (MCD) released their latest earnings reports before opening bell this morning. Mobileye posted adjusted earnings of 17 cents per share on $83.5 million, compared to the consensus estimates of 15 cents per share and $77 million. In last year’s second quarter, the sensor maker reported earnings of $52.8 million.

McDonald’s posted adjusted earnings of $1.45 per share on $6.27 billion in revenue, compared to Wall Street’s estimates of $1.39 per share and $6.27 billion in sales.

Mobileye shares surge after earnings

Mobileye NV MBLY

Mobileye NV MBLY

Mobileye’s GAAP earnings rose to 11 cents per share from last year’s 6 cents. OEM revenue rose to $64.4 million from $43.6 million in last year’s second quarter. EyeQ chip volume rose 45.4% from last year to 1.41 million units from the previous year’s 969,000 chips. The average selling price per EyeQ chip rose to $44.50 from $43.70 last year.

Shares of Mobileye surged in pre-market trading, rising by as much as 3.45% to $51 per share after this morning’s earnings announcement.

 

McDonald’s profits fall

mcdonald's logo

McDonald’s (MCD) GAAP earnings declined 1% to $1.25 per share in the second quarter. The fast food chain’s comparable restaurant sales increased 3.1%, coming up short of the expected 3.6% increase. U.S. comparable store sales fell far short of estimates, coming in at 1.8%, against the expectation of a 3.2% increase.

Comparable International Lead sales increased 2.6% on the back of strong performance in the U.K., Canada and Australia. The High Growth segment returned an increase of 1.6% in comparable restaurant sales as China and Russia led the way and other markets also returned solid performance. Comparable sales in the Foundational segment surged 7.7% as Japan and many other markets recorded strong performance.

“Enhancing the customer experience, running great restaurants and strengthening our competitive position to become a modern progressive burger company takes discipline and dedication,” McDonald’s President and CEO Steve Easterbrook said in a statement. “I am confident in our System’s ability to stay the course and execute our turnaround plan to achieve our goals. We are on the right path to changing the way customers think about McDonald’s by getting closer to the communities we serve and harnessing one of our System’s key competitive strengths – the entrepreneurial spirit of our dedicated franchisees – as we lay the foundation for future growth.”

Shares of McDonald’s slumped in pre-market trading, falling as much as 3.14% to $123.40 after this morning’s earnings report.

Disclosure: None.

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