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Arm drops over 6% in pre-market trading, second-quarter guidance below most optimistic expectations

On July 30, Arm's US stock fell over 6% in pre-market trading to $210. On the news, ARM reported its first-quarter results for fiscal year 2027 ending June 30. Quarterly revenue increased 22% year-on-year to $1.289 billion, above analysts' expectations of $1.26 billion; adjusted operating profit rose 29% year-on-year to $531 million, and adjusted earnings per share were $0.45, also better than the market expectation of $0.40. However, the company forecast second-quarter revenue of $1.38 billion, missing the market's most optimistic expectations, with adjusted earnings per share guidance of 47 cents. In addition, the company stated on the analyst conference call that 'royalty revenue will decline slightly, and there are signs of weakness in the smartphone business.'

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