Chip designer Arm Holdings reports 39% surge in revenue but shares fall
ARMArm plc(ARM) The Guardian·2024-08-01 05:07

Chip designer Arm Holdings on Wednesday reported a stronger-than-expected 39% surge in quarterly revenue, and forecast fiscal second-quarter sales broadly in line with Wall Street estimates, yet its shares fell about 9% in extended trading.For the current fiscal second quarter, Arm forecast revenue in a range between 780mand780m and 830m, compared with an average analyst estimate of $804.1m, according to LSEG data.“We’re seeing more investment [in artificial intelligence] than we saw even 90 days ago,” the chief ...