Investing
ARM hikes guidance on boost from AI-led demand; shares jump in afterhours trading
© Reuters
Investing.com — ARM surged in afterhours trading Wednesday after the chip designer hiked its annual guidance and delivered stronger guidance for the current quarter as royalty revenue was boosted AI-led demand.
Arm Holdings ADR (NASDAQ:) rose 22% in afterhours trading following the report.
The chip designer, which counts Nvidia (NASDAQ:), Intel (NASDAQ:) and Apple (NASDAQ:) among its backers, fiscal Q3 adjusted earnings of $0.29 per share on revenue of $824 million. That was ahead of Wall Street estimates for EPS of $0.25 on revenue of $761.6M.
Looking ahead, the company guided adjusted EPS of $1.20 to $1.24 on revenue of $3.16B to $3.21B, up from a prior estimate for adjusted EPS of $1 to $1.10 on revenue between $2.96B to $3.08B,.
For Q4, the company forecasts adjusted EPS of $0.28 to $0.32 on revenue of $850 to $900M. That was above estimates for EPS of $0.21 on revenue of $780.3M.
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