British chip designer ARM beat quarterly profit forecasts on Tuesday, helped by the adoption of its most powerful processor technology in smartphones and tablets from the likes of Apple and Samsung.
The Cambridge-based firm said on Tuesday its third-quarter pretax profit jumped 22 percent on revenue, 20 percent higher at 144.6 million pounds.
Chief Financial Officer Tim Score told reporters:
ARM is sensitive to some strong growth areas, like smartphones and tablets, and those of course are the parts of the industry that are growing much faster than the average.
ARM's energy-efficient technology powers most tablets and the vast majority of smartphones, which consumers are increasingly using to access the internet rather than PCs. Sales of ARM's more expensive Cortex-A designs, which can handle the demands of multiple applications running on smartphones and tablets, were particularly strong, Score said.
Source: Chicago Tribune