ARM Holdings posted a jump in earnings yesterday, as the British chip designer continued to outperform the rest of the industry.
The company beat forecasts for the three months to July, reporting a 23 per cent rise in year-on-year profits in the face of poor recent performances from its rival Intel and chipmaker Qualcomm, which uses Arm technology in its processors.
Shares rose by over six per cent as the firm reported £66.5m in profit on a 12 per cent sales rise to £213m.
Arm, which designs low-power processors used in phones and tablets including Apple’s iPhone, has been threatened by PC chipmaker Intel’s entry into the mobile market.
Chief executive Warren East pointed to a number of “exciting new products” that will be launched using Arm technology later this year, including Microsoft’s upcoming Surface tablet and a version of Windows 8 designed for Arm chips.
He attributed Arm’s success to “technology engagements over many years, and Arm’s long-term commitment to invest in the development of innovative technology”.