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ARM hikes guidance on boost from AI-led demand; shares jump in afterhours trading

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:ARM) rose 22% in afterhours trading following the report.

The chip designer, which counts Nvidia (NASDAQ:NVDA), Intel (NASDAQ:INTC) and Apple (NASDAQ:AAPL) among its backers, reported 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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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.