Arm Holdings 4Q Revenue Rises, Chip Shipments Drop 10%
By Sabela Ojea
Arm Holdings logged significantly higher revenue in the fourth quarter, but said it saw chip shipments drop by 10%.
The semiconductor and software design company on Wednesday posted a net profit of $224 million, or 21 cents a share, compared with a profit of $3 million, or 0 cents a share, for the same period a year ago.
Revenue jumped 47% to $928 million. Analysts polled by FactSet had forecast sales of $865.9 million.
The company said that chips reported as shipped declined to 7 billion from 7.8 billion in the year ago period.
For the first quarter, Arm expects revenue of $875 million to $925 million, exceeding analysts expectations of $866.4 million. The company also anticipates full-year revenue of $3.8 billion to $4.1 billion, in line with analysts views.
Stripping out one-time items, Arm sees first-quarter earnings per share of 32 cents to 36 cents, and full-year adjusted earnings per share of $1.45 to $1.65.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
May 08, 2024 17:02 ET (21:02 GMT)
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