Arm issues light earnings guidance as the company stops disclosing number of chips reported as shipped

The chip-design company has stopped reporting the number of chips reported as shipped each quarter.Rene Haas, chief executive officer of Arm Holdings plc, during the Computex conference in Taipei, Taiwan, on Tuesday, June 4, 2024.shares fell more than 9% in extended trading on Wednesday after the chip-architecture maker issued light earnings guidance for the current quarter and the full fiscal year.

For the fiscal second quarter, Arm sees adjusted earnings of 23 to 27 cents per share on $780 million to $830 million in revenue. That would imply no growth at the middle of the range. Analysts polled by LSEG had expected 27 cents per share and $804.1 million in revenue. "We previously considered the number of chips reported as shipped by our customers as a key performance indicator because it represented the acceptance of our products by companies who use chips in their products ," Arm CEO Rene Haas and Jason Child, the company's finance chief, wrote in the letter.

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Arm issues light earnings guidance as the company stops disclosing number of chips reported as shippedAfter facing declines in chip shipment counts, now Arm is focusing on higher-value markets, including accelerators for artificial intelligence.
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