Arm’s full-year revenue fell 1% ahead of IPO

SoftBank Group Corp’s Arm Ltd is expected to report a revenue decline of about 1% in the year ended March, when the chip designer reveals its initial public offering (IPO) filing on Monday, according to a person familiar with the matter.

Arm’s sales fell to $2.68 billion in the 12 months ended March 31, hurt by a slump in global smartphone shipments, the source said, requesting anonymity. Sales for the quarter ended June 30 fell 2.5% to $675 million.