Arm (NASDAQ: ARM) stock is getting hit hard in Thursday's trading. The semiconductor-specialist's share price was down 16.4% as of 1:15 p.m. ET, according to data from S&P Global Market Intelligence.
After the market closed yesterday, Arm published better-than-expected results for the first quarter of its current fiscal year, which ended June 30. But expectations were sky high, and investors didn't see enough bullish indicators in the company's forward guidance to support more gains for the otherwise red-hot stock.
Arm reported non-GAAP (adjusted) earnings per share of $0.40 on revenue of $939 million in the second quarter. The performance came in significantly ahead of the average analyst estimate's call for per-share earnings of $0.35 on sales of $906.5 million.
Source Fool.com