Arm Reports Strong Q1 Results with Revenue and Profit Beating Estimates
Arm Holdings PLC (NASDAQ:ARM) reported first-quarter results that exceeded revenue and profit estimates, leading to a significant rise in its stock price. The chip design company posted $1.29 billion in revenue for the quarter compared to analyst expectations of $1.26 billion. Adjusted earnings per share came in at $0.45 versus an estimate of $0.40. The firm also provided upbeat guidance for Q2, forecasting revenue between $1.33 billion and $1.43 billion—above the estimated $1.35 billion—and adjusted EPS ranging from $0.43 to $0.51 against a forecast of $0.45. Adjusted net income reached $480 million in Q1, surpassing estimates by nearly 11%.
Tickers: $ARM
Topics: earnings profit beat revenue beat stock price movement