Arm shares dip 8% on revenue miss

Arm Holdings shares dipped as much as 9% in after-hours trading on the company’s first-quarter earnings results Wednesday.

 Here’s how the company did, compared with estimates from analysts polled by LSEG:

• Earnings per share: 35 cents vs. 35 cents expected
• Revenue: $1.05 billion vs. $1.06 billion expected

The company said it expects second-quarter revenue in the range between $1.01 billion and $1.11 billion, which was in line with $1.05 billion expected by analysts tracked by LSEG.

Arm is a chip technology firm that sells architecture for making chips that power billions of devices, including Apple and Qualcomm‘s chips.

During the quarter, Samsung launched the Galaxy Flip 7 based on the Exynos 2500, built on Arm’s compute subsystem platform.

CEO Rene Haas said in an interview with Reuters that the company was “consciously deciding to invest more heavily,” suggesting the company is considering designing its own processors.