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.