ARM Posts Rise In Q1 Profit

ARM Holdings PLC

reported a gain in its first-quarter net profit. ARM's quarterly net income surged to GBP62.3 million ($104.7 million), versus a year-ago profit of GBP51.9 million. Its earnings per share rose to 4.4 pence from 3.7 pence. Its revenue climbed 10% to GBP186.7 million. ARM shares dropped 4.21% to $48.00 in pre-market trading.