Arm Holdings shares rise in price by more than 50% after successful reporting – Kommersant

Arm Holdings is rising at a record pace for a British chip maker following the publication of strong financial results and positive guidance. The company’s shares in early trading on NASDAQ grew by more than 60%, reaching $123.6 per share. The share price later corrected slightly and the gain was reduced to about 55%.

Based on the results of the third quarter of fiscal year 2024 (ended December 31, 2023) Arm received record revenue of $824 million. This result was significantly better than the forecasts of analysts, who expected the company to receive income in the amount of $761 million. Net profit for the quarter was much better than forecasts – $87 million, or $0.29 per share versus the forecast $0.25.

Finally, Arm said it expects fiscal fourth-quarter earnings per share of $0.28 to $0.32 on sales of $850 million to $900 million. Analysts expect earnings of $0.21 per share on sales of $780 million.

Read about what awaits microchip manufacturers in 2024 in Kommersant’s material. “Chip of Good Hope”.

Kirill Sarkhanyants