Arm Holdings Stock Falls After Q1 Results, Weak Q2 Guidance: Details
Portfolio Pulse from Erica Kollmann
Arm Holdings Plc (NASDAQ:ARM) reported better-than-expected Q1 earnings and revenue, but provided weak Q2 guidance. The stock fell 9.41% after-hours following the announcement.
July 31, 2024 | 8:24 pm
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Arm Holdings reported Q1 earnings of 40 cents per share, beating estimates, and revenue of $939 million, also above expectations. However, the company provided weak Q2 guidance, forecasting revenue between $780 million and $830 million and earnings between 23 cents and 27 cents, below the 27-cent estimate. The stock fell 9.41% after-hours.
Despite strong Q1 results, the weak Q2 guidance has led to a significant drop in Arm Holdings' stock price. Investors are likely concerned about the company's near-term growth prospects.
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