SoftBank stocks surge over 8% on strong Arm performance

SoftBank, a Japanese investment holding company, experienced a notable surge of over 8% in its shares during morning trading. This spike followed the release of impressive financial results by chipmaker Arm.

Arm witnessed a remarkable increase in its shares, soaring by as much as 41%. This surge came in the wake of the chip designer surpassing analysts’ expectations with its reported revenue and earnings.

Softbank stock Share

Additionally, Arm provided a bullish outlook for the upcoming quarter.

SoftBank, which had taken Arm public in September, still retains approximately 930 million shares, constituting roughly 90% of the chip designer’s outstanding stock.

Following the earnings report, SoftBank’s stake in Arm experienced a significant boost, rising by nearly $16 billion.

This propelled its value from close to $71.6 billion to $87.4 billion. Notably, the gains from Arm’s performance outweighed the $14 billion losses incurred by SoftBank’s investment in WeWork, a co-working space provider that filed for bankruptcy in November.

Michael Manua
Michael Manua
Michael, a seasoned market news expert with 29 years of experience, offers unparalleled insights into financial markets. At 61, he has a track record of providing accurate, impactful analyses, making him a trusted voice in financial journalism.
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