ARM — -5% after hours as in-line guidance spoils a Q2 beat

Arm fell about 5% after hours (down ~3.3% premarket) despite beating Q2 estimates — adjusted EPS of $0.52 vs $0.47 expected and revenue up 27% to $1.44B. Guidance for fiscal Q3 revenue of $1.49-1.59B merely matched consensus, and royalty revenue of $670M came in below the $705M analysts expected.