{"id":50413,"date":"2023-08-19T07:15:50","date_gmt":"2023-08-19T11:15:50","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/arms-full-year-revenue-fell-1-ahead-of-ipo-source\/"},"modified":"2023-08-19T07:15:53","modified_gmt":"2023-08-19T11:15:53","slug":"arms-full-year-revenue-fell-1-ahead-of-ipo-source","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=50413","title":{"rendered":"Arm’s full-year revenue fell 1% ahead of IPO – source"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: The Arm Ltd logo and a rising stock graph are seen in this illustration taken March 6, 2023. REUTERS\/Dado Ruvic\/Illustration\/File Photo<\/span>
\n<\/i>\n<\/div>\n

By Anirban Sen and Manya Saini<\/p>\n

(Reuters) – SoftBank Group Corp’s Arm Ltd is expected to report a revenue decline of about 1% in the year ended March, when the chip designer reveals its initial public offering (IPO) filing on Monday, according to a person familiar with the matter. <\/p>\n

Arm’s sales fell to $2.68 billion in the 12 months ended March 31, hurt by a slump in global smartphone shipments, the source said, requesting anonymity. Sales for the quarter ended June 30 fell 2.5% to $675 million. <\/p>\n

In May, SoftBank reported that revenue for the year at Arm had grown 5.7% under International Financial Reporting Standards. Arm will disclose its latest financials next week under the U.S. accounting standards, the source added. <\/p>\n

Arm, which is preparing to list its shares on the Nasdaq as soon as next month, declined to comment. <\/p>\n

Global chipmakers have recently signaled the beginning of the end of a semiconductor supply glut, but the outlook for demand from customers outside the artificial intelligence (AI) industry remains gloomy.<\/p>\n

All the major markets for chips – smartphones, PCs and data centers – have shrunk this year, as both corporate customers and consumers scale back spending amid a weak global economy, high inflation and rising interest rates.<\/p>\n

Earlier on Friday, Reuters reported that SoftBank had acquired the 25% stake in Arm it did not directly own from its Vision Fund unit in a deal that valued the chip designer at $64 billion. <\/p>\n

Reuters had previously reported that SoftBank was aiming to list Arm at a valuation of $60 billion to $70 billion in the IPO.<\/p>\n

Arm’s IPO preparations are being led by Goldman Sachs Group <\/span><\/span> (NYSE:), JPMorgan Chase (NYSE:), Barclays <\/span><\/span> (LON:) Plc and Mizuho Financial Group. <\/p>\n

The details of Arm’s financials were first reported by Bloomberg News. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: The Arm Ltd logo and a rising stock graph are seen in this illustration taken March 6, 2023. REUTERS\/Dado Ruvic\/Illustration\/File Photo By Anirban Sen and Manya Saini (Reuters) – SoftBank Group Corp’s Arm Ltd is expected to report a revenue decline of about 1% in the year ended March, when the […]<\/p>\n","protected":false},"author":1,"featured_media":4722,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-50413","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nArm's full-year revenue fell 1% ahead of IPO - source | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. FILE PHOTO: The Arm Ltd logo and a rising stock graph are seen in this illustration taken March 6, 2023. 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