Chip-maker ARM posts 9% rise in quarterly profitTuesday 22 July 2014 07.52
ARM Holdings, the British company whose processor designs power Apple's and Samsung's smartphones, posted a 9% rise in second-quarter profit, helped by strong demand for its technology.
The Cambridge-based company, which receives revenue for selling its blueprints and royalties on every chip shipped by partners, reported pre-tax profit of £94.2m on revenue also up 9% to £187.1m.
"Market data indicates improving semiconductor industry conditions, leading to the expectation of an acceleration in royalty revenue growth in the second half of 2014," the company said.
Analysts had expected pre-tax profit of £90.9m and revenue of £182.5m, according to a weighted consensus compiled by Thomson Reuters.