ARM, the British company whose technology powers Apple's iPad, met market expectations with a 22 per cent rise in first-quarter profit, helped by growth in chip-makers licensing its energy efficient designs.
The company reported adjusted pretax profit of £61.9m on revenue 14 per cent higher at 132.5 million pounds, both in line with forecasts.
Cambridge-based ARM licenses its technology and receives a royalty of a few cents on every chip shipped in devices ranging from mobile phones to domestic appliances and toys.
It signed 22 new processor deals in the quarter, driving revenue for processor licensing up 27 per cent to £41.1m.
Some 1.1bn chips based on its designs were shipped into mobile phones and mobile computers in the period, similar to a year ago, it said, while 800m chips were shipped into consumer and embedded digital devices, up 15 per cent year-on-year.
The second half will see Microsoft launch its next Windows operating system on an ARM-based architecture for the first time, helping bolster the British company's dominance in mobile computing.
City A.M. Reporter