Arm Tumbles After Spending Surge Weighs on Profit Forecast

Arm Holdings Plc, which provides the most widely used technology in computing chips, gave a lower-than-expected profit forecast for the current period after ramping up spending on new products.

Fiscal second-quarter earnings will be 29 cents to 37 cents a share, excluding some items, the company said in a statement on Wednesday. Analysts had projected 35 cents on average. Revenue will be $1.01 billion to $1.11 billion, compared with an estimate of $1.06 billion.