Arm Holdings预计第四季度营收增速放缓

Core Viewpoint - Despite the rising demand for AI data center chip designs, Arm Holdings expects a slowdown in revenue growth [2][7]. Revenue Guidance - The company projects a revenue increase of approximately 18% year-over-year for the current quarter, down from 26% growth in Q3 of fiscal year 2025 [2][7]. - Arm anticipates that patent licensing revenue growth will decline to low double digits, compared to a 27% increase in the previous quarter, primarily due to typical seasonal factors [2][7]. - The revenue guidance for Q4 of fiscal year 2025 is approximately $1.47 billion, with a fluctuation of $50 million, while analyst expectations average $1.44 billion [2][7]. Financial Performance - In the previous quarter, Arm reported a net profit of $223 million, or $0.21 per share, down from $252 million, or $0.24 per share, in the same period last year [3][9]. - Adjusted earnings per share were $0.43, exceeding the analyst consensus of $0.41, with revenue growing 26% to $1.24 billion, surpassing the analyst expectation of $1.23 billion [3][9]. Licensing Revenue - Patent licensing revenue increased by 27% to $737 million, driven by higher single-chip licensing fees and increased application rates of Arm architecture chips in the data center sector [4][9]. - Licensing and other revenue grew by 25% to $505 million, influenced by the timing and scale of several large licensing agreements and contributions from unfulfilled orders [5][9]. Market Reaction - Following the revenue guidance announcement, Arm's stock price fell by 8.3% to $96.12, with a cumulative decline of 35% over the past year [8].