Arm reports first post-IPO earnings and the stock is down 7%

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Arm reported its first post-IPO earnings on Wednesday that beat Wall Street expectations for sales.

on Wednesday that beat Wall Street expectations for sales and showed that the company's lucrative licensing business doubled in size over the past year.

Arm reported a net loss of $110 million, or $0.11 cents per share. The company said that the loss was due to over $500 million in one-time share-based compensation triggered by the recent IPO, and that share-based compensation would land between $150 million and $250 million in future quarters.Arm's intellectual property is in nearly every smartphone, many PCs, and other miscellaneous chips. Arm says that over 7.1 billion Arm-based chips were shipped during the quarter.

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