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British Chipmaker Arm Holdings Stock Skyrockets After Q3 Performance – Here’s Why

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Arm Holdings Plc. (NASDAQ:ARM) shares are trading higher after the company reported better-than-expected third-quarter financial results after the bell Wednesday. Here’s a look at the highlights. 

Arm Holdings reported adjusted quarterly earnings of 29 cents per share, which beat the analyst consensus estimate of 25 cents by 16%. The company reported quarterly sales of $824 million, which beat the analyst consensus estimate of $761.62 million by 8.19%.

Arm clocked Royalty revenue of $470 million, up 11% year-over-year, driven by the semiconductor industry recovery and the rapidly increasing penetration of Armv9-based chips, which typically command a higher royalty rate.

The …

Full story available on Benzinga.com

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