Released
FY2027 Q1
Earnings ReviewARM
BEATArm Holdings
Arm Holdings · Semiconductors (CPU IP/Licensing)
Wed, July 29, 2026·After Market Close
ARMSemiconductorCPU IPLicensingAI InfrastructureData CenterArm AGI CPUEarnings
01Wall Street Consensus
EPS$0.40
Revenue$1.27B
02Earnings Results
EPS$0.45+12.5%
Revenue$1.29B+1.6%
After-Hours ReactionAH -7%
Key Takeaways
- Revenue $1.29B — beat consensus $1.27B by +1.6%, +22% YoY
- Non-GAAP EPS $0.45 — beat consensus $0.40 by +12.5%, +29% YoY
- Non-GAAP opex $733M — $27M below the $760M guide (timing on tooling, emulation, and cloud spend)
- Royalty revenue $715M (+22% YoY); license revenue $574M (+23% YoY)
- Data-center royalty revenue more than doubled — expanding Arm-based hyperscaler deployments
- Cumulative Arm AGI CPU demand $2B+ — more than double the original FY2027-FY2028 target of $1B
- Free cash flow $665M — up 343% YoY
- Q2 guide: revenue $1.38B (±$50M, above consensus $1.34B); non-GAAP EPS $0.47 (±$0.04, above consensus $0.44)
- Smartphone royalties expected to decline next quarter — the beat's magnitude fell short of the market's most bullish expectations, and shares sold off
Key Checkpoints
Upside Catalysts
Risk Factors
Detail
EEPS History (Last 2 Quarters)
Actual EPS vs Consensus — Green Beat · Red Miss
Beat2
Miss0
Beat rate100%
Detail
SEPS 서프라이즈 히스토리
Beat2Miss0Beat률 100%
분기별 EPS 컨센서스 대비 서프라이즈(%) — 막대: EPS, 점선: 매출
컨센서스 대비 실제 EPS/매출 서프라이즈 (%)