[Huatai Computer - US Stock Express] ARM: FY27Q1 Results and Guidance Both Beat, but Royalty Guidance Miss and No Update on AGI CPU Weigh on After-Hours Performance

English summary

# Performance Snapshot: Licensing and royalty grew together, profit significantly beat, royalty guidance below expectations. Revenue: # Cloud AI drives royalty growth. FY27Q1 total revenue was $1.289B, yoy +22%, beating expectations by 1.81%; licensing and other revenue was $574M, yoy +23%, beating by 2.12%; royalty revenue was $715M, yoy +22%, beating by 1.87%, # Data center royalty revenue again doubled YoY. Profit: # Lower-than-expected expenses drove margins significantly above expectations. Non-GAAP: operating margin 41.2%, +3.22pct vs expectations; net income $480M, yoy +28%, beating by 10.62%; EPS $0.45, yoy +29%, beating by 9.76%. Guidance: # FY27Q2 total revenue and EPS guidance beat, but royalty revenue guidance missed. The company expects revenue of $1.330-1.430B, midpoint $1.380B, yoy +22%, midpoint beating by 3.06%...