Arm Surpasses Expectations with Q3 Earnings Beat Estimates, Shares Soar Over 40%

Benzinga 2024-02-08

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Arm reported fiscal third-quarter earnings that beat analyst estimates for both revenue and earnings per share. Revenue was $824 million compared to the estimated $761 million. Earnings per share were 29 cents versus an estimated 25 cents. Arm also provided a strong forecast for the fourth quarter, estimating 28 to 32 cents EPS on $850 to 900 million revenue, above consensus estimates. Royalty and license revenue grew year-over-year, driven by a smartphone recovery and growth in automotive, cloud, and AI chip demand.

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