After the chip designer disclosed the paperwork for an initial public offering( IPO ) that is anticipated to be the largest of the year, SoftBank Group Corp’s ArmHoldings Ltd reported a 1 % decline in annual revenue due to an increase in smartphone sales. Arm’s stock market launch is anticipated to revive a sluggish IPO market that has seen some high-profile startups defer their listing plans over the past year due to market volatility. The English company is entering still-burgeoning markets like cloud computing and has fared better than most in the chip market slump. Arm’s revenue fell to$ 2.68 billion for the fiscal year that ended on March 31, which was primarily hurt.
Continue reading: Arm, a chip designer supported by SoftBank, announces processing for the popular U. S. IPO.