Mobileye’s 2016 net income up 58.3% y/y to USD108.4 million

Strong demand for ADAS and autonomous driving technology drive Mobileye financial performance

Mobileye has reported 58.3% year-over-year (y/y) increase in net income to USD108.4 million in the financial year ended 31 December 2016 driven primarily by 48.7% y/y surge in revenue to USD358.2 million, the Israel-based supplier of advanced driver assistance system (ADAS) and autonomous driving said in a press release. Higher revenue also helped Mobileye to record 55.6% y/y increase in operating profit to USD120.9 million, and 57.3% y/y jump in profit before income tax to USD125.4 million.