Shares of UK chip designer Arm fell after its revenue forecast for the current quarter left Wall Street underwhelmed, in its first earnings report since going public in September.
Arm on Wednesday forecast revenue of between $720mn-$800mn for the quarter, falling short of analyst expectations. It anticipates between $2.96bn-$3.08bn in full-year revenue.
The shares were 6.8 per cent lower in after-market trading following the earnings release, taking them below the $51 a share initial public offering price.
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