Arm Tumbles as Smartphone Slump Weighs on Revenue Outlook
- Company said it’s unsure when licensing deals will close
- The results are Arm’s first since its IPO in September
This article is for subscribers only.
Arm Holdings Plc shares tumbled 8% after the company gave a disappointing sales forecast amid a slump in smartphone sales and uncertain timing for new licensing deals.
Revenue in the three months ending in December will be $720 million to $800 million, Arm said in a statement Wednesday, delivering the first earnings report since its initial public offering. The midpoint of that range — $760 million — would fall short of the $773 million analysts have estimated.