Deals
Arm’s Revenue Fell Last Year Ahead of IPO, Draft Filing Shows
- Decline in revenue is according to US accounting standards
- Arm’s parent SoftBank posted gains for unit under IFRS
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Arm Ltd., a chip designer that is preparing for what would be the biggest initial public offering of 2023, saw its revenue decline about 1% in the last fiscal year, according to a draft filing for its IPO reviewed by Bloomberg.
Companies often look to post rising revenue in the periods leading up to stock sales, but Arm’s sales fell to $2.68 billion in the 12 months ended on March 31, according to the filing, which is still subject to change. Japan’s SoftBank Group Corp., which owns Arm, plans an IPO of the company as soon as next month that could value the chip designer at as much as $70 billion.