NEW YORK (TheStreet) -- Shares of Mobileye (MBLY) fell 5.26% to $44.29 in afternoon trading Thursday despite the collision prevention technology company's third-quarter earnings that beat analysts' expectations.
The company posted adjusted earnings of 4 cents a share, which matched the consensus estimate of analysts polled by Thomson Reuters. Revenue totaled $34.7 million, which beat analysts' expectations of $30.3 million.
Mobileye said it expects full-year earnings of 20 cents a share, which edged the consensus estimate of 19 cents a share, on revenue in the range of $139 million to $141 million, which surpassed analysts' expectations of $134.5 million.
Furthermore, Mobileye announced it earned new equipment supply deals in the last quarter with Tesla (TSLA) - Get Report , Ford (F) - Get Report , General Motors (GM) - Get Report , Mazda (MZDAF) and two unidentified European automakers. Mobileye said the majority of these companies plan to deploy the technology in 2016 and 2017.
More than 7.3 million shares had changed hands as of 3:36 p.m., compared to the daily average volume of 5,930,710.