Atlas Research Note

Arm FQ2 FY27: Licensing Carried the Quarter While Phones Held Royalties Back

Ben Bajarin · November 5, 2026

Creative Strategies earnings read | November 4, 2026 | Arm Holdings second-quarter fiscal 2027 results (quarter ended September 30, 2026) and conference call, November 4, 2026 Arm grew revenue 27% from a year ago to $1.44 billion, guided the December quarter to $1.54 billion at the midpoint, and now has purchase orders from multiple customers for AGI CPU running through calendar 2027, with up to $2 billion of AGI CPU revenue expected across fiscal 2027 and 2028. Operating view: The beat came from licensing. License and other revenue was $773 million, up 50% from a year ago and about $100 million more than Arm itself planned, because customers moved to sign long-term access agreements earlier than expected.

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Notes

Arm FQ2 FY27: Licensing Carried the Quarter While Phones Held Royalties Back

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