“Mobileye reported revenue of $485 million and maintained full year guidance for revenue and adjusted operating income.”

In context

“impacted by a $300 million write-down of accelerator inventory due to reduced revenue expectations. Intel Foundry delivered revenue of $4.4 billion up slightly sequentially, driven by increased wafer mix of Intel 4, 3. Foundry operating loss of $5.8 billion was down sequentially materially driven by the $3 billion impairment charges I discussed earlier. We expect losses to continue at approximately the same rate in Q4, minus this impairment charge. Next year, as we move to nodes with a better cost structure and realize the savings associated with the restructuring actions, we expect operating losses to improve significantly. Additionally, we are intensely focused on driving improved returns on our roughly $80 billion of tangible book value, most of which is associated with Intel Foundry. Mobileye reported revenue of $485 million and maintained full year guidance for revenue and adjusted operating income. Q3 revenue was down 8% year-over-year, primarily driven by a more than 50% reduction in shipments to China, where comparisons will become easier as the exposure is now significantly smaller. Cash generation was quite strong, as operating cash flow was well above operating income. Altera delivered revenue of $412 million up 14% sequentially, consistent with guidance to support improved lead times by our distribution partners. Operating margins increased sequentially by 900 basis points on better gross margins and spending discipline. For Q4, we expect high-single-digit sequential revenue growth, as we work with our distribution partners to prepare for the cutover to Altera independent warehouse operations. Overall, billings remain below consumption, as end customers continue to work down i”