Arm stock slips after hours as lack of blowout guidance offsets quarterly results

Investing.com -- Arm on Wednesday delivered a quarterly top- and bottom-line beat, but its current quarter profit and revenue guidance failed to comfortably beat expectations. Still guessing which stocks will beat the market? Our AI portfolio updates monthly and is outperforming the S&P 500 by 118%. See this month's list » U.S.-listed shares of the British chip designer fell nearly 4% after hours. Arm is a well-known player in the semiconductor market, with its chip designs being used by companies such as Qualcomm, Apple, and Samsung Electronics in graphics processing units (GPUs) in smartphones, and by cloud computing giants and hyperscalers such as Amazon, Microsoft, Alphabet, and Meta Platforms.