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Arm Holdings
shares were falling despite earnings that beat analysts’ expectations. The newly public chip designer offered a mixed outlook for its current quarter.
For the September quarter,
Arm
(ticker: ARM) reported revenue of $806 million, above expectations of $740 million, according to FactSet. The company also posted adjusted earnings-per-share of 36 cents, versus the 26 cents consensus.
Guidance wasn’t as strong. Arm gave a revenue forecast for the current quarter, ending in December, of $720 million to $800 million, below the consensus of $776 million at its midpoint.
“We are delighted with Arm’s first quarter as a listed company, which has demonstrated the strength of our business model and the robustness of our diversified products and end markets,” Arm’s management wrote in a letter to investors.
Arm shares fell 6% to $51.11 in premarket trading Thursday, the morning after results.
Arm went public in September after pricing its initial public offering at $51 a share. The company makes money from licensing its chip architecture and other chip designs to semiconductor companies and hardware makers.
Write to Tae Kim at [email protected]
Read the full article here
