ARM profit up 167 per cent in smartphone boost
CHIP designer ARM Holdings posted a 167 per cent higher second-quarter profit, beating analysts’ expectations, helped by increasing demand for smartphones, netbooks and tablet computers.
The company, whose designs are in more than 95 per cent of the world’s mobile phones, posted pretax profit of £43.5m on 54 per cent higher revenue of £100m – both ahead of expectations.
Earnings per share of 2.34 pence also comfortably beat the 1.83 pence forecast.
The Cambridge-based firm said its chip designs were also growing share in consumer electronics and embedded products, and new deals, with Freescale, Microsoft and TSMC, would further increase its market penetration.
“ARM continued to gain share in the quarter with shipments of ARM-based chips growing faster than the industry in all target markets,” the company said.