Arm Stock Slips Despite Strong Earnings as Its Outlook Disappoints
Arm plc(ARM) Investopedia·2024-11-07 06:26
Arm Holdings (ARM) reported fiscal second-quarter earnings that topped analysts' estimates, but shares fell in extended trading Wednesday as its sales outlook disappointed. The chip designer saw revenue grow 5% year-over-year to $844 million, above the analyst consensus from Visible Alpha. Net income was $107 million or 10 cents per share, compared to a loss of 110 million or 11 cents per share a year ago, exceeding expectations. The gains came as Arm's royalty revenue jumped 23% to $514 million, though it ...