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Arm shares jump 50% on AI, China boosts to results
By Peter Clarke, eeNews Europe (February 9, 2024)
Arm’s share price jumped by 48 percent as the processor IP licensor announced a solid quarter boosted by demand for artificial intelligence processors and a jump in sales to China.
Arm Holdings plc, recently returned to the stock market, announced revenues for the quarter ended December 31, 2023, of US$824 million up 14 percent year-on-year. Sequentially Arm lifted its revenue by 2.2 percent from US$806 million. The non-GAAP net profit was US$338 million up 17 percent y-on-y.
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