[Zheshang Internet | Xu Ziwei] ARM 26Q2 Results Snapshot

English summary

Overview: Revenue and profit both beat expectations, driven by cloud AI and high-value licensing. 26Q2: Revenue of $1.289B (YoY +22.4%), +1.96% vs. Bloomberg consensus; operating profit of $531M (YoY +28.9%), +4.06% vs. consensus, operating margin 41.2%; adjusted net income of $480M (YoY +28.3%), +5.73% vs. consensus; gross margin 98.1%, +0.2pct YoY. Revenue growth was driven by cloud AI royalties, high-value IP licensing agreements, and deeper penetration of higher-value Armv9 and CSS products.