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Tech Firms Report Mixed Earnings Driven by Data Centers, AI, and Smartphone Trends

Several tech companies, including IES Holdings and Legrand, reported strong financial results boosted by demand for data centers and AI. Conversely, Arm Holdings saw a downgrade from Goldman Sachs due to smartphone market weakness, even as it beat its own earnings forecasts on AI demand.

7 May, 13:20 — 7 May, 13:20
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zerohedgeLow112d ago

Goldman Cuts ARM To Sell On Shocking Smartphone Weakness

Goldman Cuts ARM To Sell On Shocking Smartphone Weakness Arm Holdings ADRs sank nearly 9% in premarket trading, on track for the largest intraday decline in almost a year, after the chip-architecture company reported softer-than-expected fiscal fourth-quarter royalty revenue tied to a slowdown in the smartphone industry, while assuring investors that data center demand can offset the slump. During an earnings call, Wells Fargo analyst Joe Quatrochi asked Arm CEO Rene Haas: "Cle...

By Tyler Durden

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Coverage Timeline

First report: channel-news-asia · 7 May, 05:33Full coverage: 3 · 10hWindow: 10h
Left-leaningCenterRight-leaning
channel-news-asia7 May, 05:33First to report

Legrand beats forecasts as US data centre demand boosts profit

8h later
zerohedge7 May, 13:20

Goldman Cuts ARM To Sell On Shocking Smartphone Weakness

2h later
Yahoo7 May, 15:29Latest update

IES Holdings (IESC) FQ2 Revenue Grows 17% on Data Center Demand

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