Arm Forecasts Strong Third-Quarter Revenue
Arm Holdings forecast third-quarter revenue slightly above estimates as strong artificial intelligence spending drives demand for its energy-efficient technology. The chip designer reported solid second-quarter results beating expectations.
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ARM HOLDINGS PLC-ADR forecast third-quarter revenue of $1.54 billion, beating the average analyst estimate of $1.53 billion amid surging artificial intelligence spending. The design provider's shares fell 1% during extended trading on Wednesday following the announcement. The upbeat guidance highlights robust data-center demand for power-efficient processor architectures.
