Arm shares drop on weak forecast

Rene Haas, CEO of chip tech provider Arm Holdings, holds a replica of a chip with his company's logo on it, during an event in which Malaysia's Prime Minister Anwar Ibrahim officially announces a $250 million deal with the company, in Kuala Lumpur, Malaysia March 5, 2025. Arm shares dropped more than 8% in extended trading on Wednesday after the chip-design company issued weaker-than-expected guidance for the current quarter. Here's how the company did in the fiscal fourth quarter compared with LSEG consensus: Earnings per share: 55 cents, adjusted vs. 52 cents expected 55 cents, adjusted vs. 52 cents expected Revenue: $1.24 billion vs. $1.23 billion While Arm topped estimates for the quarter ended March 31, Wall Street is looking ahead to the company's forecast for the first quarter. Arm said revenue will be between $1 billion and $1.1 billion. The middle of the range is below the $1.1 billion average analysts estimated, according to LSEG. Earnings per share will be between 30 ... Read full article.