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ARM Profit Misses Forecasts

ARM Profit Misses Forecasts

Cambridge, UK, based chip designer ARM – which is expected to be acquired by Japan’s Softbank – has reported revenue in the three months ended June 30 at US$387.6 million (A$314 million), up nine percent from the same period in 2015.  

Profit soared by around 17 percent to $118 million.

It was the first earnings report since SoftBank last week agreed to buy the company for US$32 billion.

But you can’t please everyone, it seems. Both revenue and profit fell short of a Thomson One Analytics consensus survey of 23 analysts. ARM’s share price held at £16.77. The acquisition is expected to close by October.

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