Arm reported record second-quarter revenue of $1.44 billion for fiscal year 2027, up 27% year-over-year. Licensing and other revenue surged 50% to $773 million, while royalty revenue reached $670 million, with data center royalties doubling compared to the prior year. Adjusted earnings per share came in at $0.52, beating analyst expectations of $0.47. The company guided third-quarter revenue to approximately $1.54 billion, slightly above consensus estimates of $1.53 billion. Despite the strong results, Arm's stock dipped about 2% in after-hours trading.