Shares in British chip designer Arm, owned by SoftBank, fell about 8 percent after the company gave a modest outlook for the current quarter.
The company, which listed on the Nasdaq last September, did not adjust its full-year guidance. The midpoint of its current-quarter revenue guidance is $805 billion, in line with expectations.
Arm posted revenue of $939 million last quarter, up 39 percent year-over-year and exceeding the top end of the company’s previous forecast.
CEO Rene Haas told shareholders that increasing complexity in chip design is driving royalty growth for the company, which provides the architecture behind chips made by Nvidia, Qualcomm and Apple.
