Arm shares almost doubled in price after the publication of financial statements - Kommersant

Arm shares almost doubled in price after the publication of financial statements - Kommersant


Shares of British microchip manufacturer Arm Holdings have been rising for almost a week on the back of positive financial reports published last Wednesday. If at the close of trading on Wednesday, February 7, the company's shares cost $77, then at the end of today's trading session on Nasdaq they reached $148.97. Thus, the increase in the company's share price over these days amounted to 93.5%.

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 also much better than forecasts - $87 million, or $0.29 per share, against the forecast indicator $0.25.

Additionally, 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.

Thanks to such a rapid growth in Arm share prices, the shares of Softbank Group, which owns 90% of the shares of the British chip manufacturer, are also growing in price. Shares of the Japanese holding rose in price by 28.3% over the same period.

Read about what awaits microchip manufacturers in 2024 in Kommersant's material. "Chip of Good Hope".

Kirill Sarkhanyants



Source link