20th Apr 2016 10:25
LONDON (Alliance News) - ARM Holdings PLC Wednesday said one of its executives sold around GBP300,000 in shares as the micro processor designer reported a rise in pretax profit for its first quarter.
Executive Vice President and President of ARM Greater China Allen Wu sold 30,150 shares at 994.50 pence each on March 17, reducing his shareholding to 41,766 shares.
On Wednesday, ARM reiterated guidance for full-year dollar revenue in line with market expectations. The group saw pretax profit rise to GBP112.0 million in the first quarter of 2016, up from GBP103.4 million the year before, as revenue rose 14% to USD398.0 million from USD348.2 million. In sterling, revenue rose 22% to GBP276.4 million from GBP227.5 million.
The stock was up 2.8% at 991.00p, one of the best performers in the FTSE 100 Wednesday.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
ARM.L