According to the news, Arm's revenue for the 2022 fiscal year decreased by 1% to $2.68 billion
According to Reuters reports, insiders say that the initial public offering (IPO) documents released by Arm Ltd, a subsidiary of Softbank Group, show that the chip design company expects revenue to decline by about 1% in the fiscal year 2022 (April 2022 March 2023) as of March this year.
According to sources, due to a decline in global smartphone shipments, Arm's sales fell to $2.68 billion in the 12 months ended March 31. Sales for the quarter ended June 30th decreased by 2.5% to $675 million.
In May of this year, SoftBank reported that according to international financial reporting standards, Arm's revenue has increased by 5.7% this year. The source added that Arm will disclose its latest financial data in accordance with US accounting standards this week.
Arm is preparing to go public on NASDAQ as soon as September, but declined to comment.
Global chip manufacturers have recently stated that the semiconductor oversupply situation is coming to an end, but the demand prospects for customers outside the artificial intelligence (AI) industry remain bleak.
Due to global economic weakness, high inflation, and rising interest rates, corporate customers and consumers have reduced their spending, leading to a contraction in all major chip markets such as smartphones, personal computers, and data centers this year.
Reuters recently reported that SoftBank has acquired a 25% stake in Arm, which it does not directly own, from its vision fund division, resulting in a valuation of the chip design company of $64 billion.
Softbank plans to list Arm in an IPO with a valuation of $60 billion to $70 billion.
ARM's IPO preparations are led by Goldman Sachs Group, JPMorgan Chase, Barclays Bank, and Mizuho Financial Group.
In May of this year, SoftBank reported that according to international financial reporting standards, Arm's revenue has increased by 5.7% this year. The source added that Arm will disclose its latest financial data in accordance with US accounting standards this week.
Arm is preparing to go public on NASDAQ as soon as September, but declined to comment.
Global chip manufacturers have recently stated that the semiconductor oversupply situation is coming to an end, but the demand prospects for customers outside the artificial intelligence (AI) industry remain bleak.
Due to global economic weakness, high inflation, and rising interest rates, corporate customers and consumers have reduced their spending, leading to a contraction in all major chip markets such as smartphones, personal computers, and data centers this year.
Reuters recently reported that SoftBank has acquired a 25% stake in Arm, which it does not directly own, from its vision fund division, resulting in a valuation of the chip design company of $64 billion.
Softbank plans to list Arm in an IPO with a valuation of $60 billion to $70 billion.
ARM's IPO preparations are led by Goldman Sachs Group, JPMorgan Chase, Barclays Bank, and Mizuho Financial Group.