ARM Holdings (ARMH) down on Q1 results

ARM Holdings plc (NASDAQ: ARMH) dropped 4.2% to $48.01 on Q1 results. ARM's quarterly net income surged to GBP62.3 million ($104.7 million), versus a year-ago profit of GBP51.9 million. Share volume was 977,000 compared to an all-day average of 1.7 million