Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of British chip designer ARM Holdings (NASDAQ: ARMH ) have skyrocketed by as much as 11% today after the company reported solid first-quarter earnings.
So what: Revenue in the first quarter totaled $263.9 million, easily topping the Street forecast of $251.1 million. Adjusted earnings per share came in at $0.24, again ahead of the consensus estimate of $0.21. The company said it inked 22 processor licenses in the first quarter across numerous end markets.
Now what: Royalty-bearing chip shipments grew 35% to 2.6 billion units, which was driven largely by mobile and embedded chips. CEO Warren East, who announced last month that he would retire this summer, said that ARM saw record royalty revenue this quarter and there has been strong uptake of its next-generation processors. ARM's guidance for the second quarter calls for revenue to be in-line with the "market expectations."
Interested in more info on ARM Holdings? Add it to your watchlist by clicking here.
It's incredible to think just how much of our digital and technological lives are almost entirely shaped and molded by just a handful of companies. Find out "Who Will Win the War Between the 5 Biggest Tech Stocks?" in The Motley Fool's latest free report, which details the knock-down, drag-out battle being waged by the five kings of tech. Click here to keep reading.