What's Going On With Arm Holdings Stock Thursday?

Arm Holdings Plc (NASDAQ:ARM) shares initially traded lower after the company reported second-quarter financial results, but reversed course and moved higher near the open on Thursday as positive analyst revisions came in. Here’s what you need to know.

What To Know: Arm reported second-quarter adjusted earnings of 30 cents per share, beating analyst estimates of 26 cents per share, according to Benzinga Pro. In addition, the company reported second-quarter revenue of $844 million, beating analyst estimates of $808.37 million.

Arm reported $330 million in revenue from licensing and other sources, and $514 million from royalties. Royalty revenue was up 23% year-over-year, primarily driven by continued adoption of Armv9, as well as an overall smartphone market recovery.

The chip design firm reported $475 million in trailing 12-month free cash flow. Arm said it ended the ...

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