Chip designer Arm Holdings reports 39% surge in revenue but shares fall
Updated: 2024-07-31 21:07:56
Even as shares fall about 9%, chief financial officer says firm is seeing ‘more investment’ in AI than ‘even 90 days ago’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 $780m and $830m, compared with an average analyst estimate of $804.1m, according to LSEG data. Continue reading...