Arm Holdings PLC's shares soared over 40% in after-hours trade after the release of its third-quarter earnings report. The company's financial performance exceeded analysts' expectations, with a 14% increase in revenue, reaching $824 million, compared to the anticipated $761 million.
Moreover, the British chip design company provided a favorable forecast for the fourth quarter of 2024, with projected earnings per share ranging from $0.28 to $0.32 and sales estimated between $850 million and $900 million. These figures surpassed analysts' predictions of $0.21 earnings per share and $780 million in sales.
At 5:02 pm ET, Arm shares surged 40.67% to sell at $107.81 in after-hours trading in New York.
