Arm Rides AI Wave to Record Revenue, Stock Jumps More Than 20%

Arm Holdings Plc (ARM) stock soared more than 20% in after-hours trading Wednesday after reporting strong earnings and a rosy outlook amid increasing demand for artificial intelligence processing.The British semiconductor designer reported fiscal 2024 third-quarter adjusted earnings per share of 29 cents, up from 22 cents a year earlier. Revenue rose 14% to $824 million as the company gained market share in the cloud and automotive space, and as AI boosted its licensing revenue. The top and bottom line figu ...