ARM tops forecasts on smartphone and tablet boom
1 min read
ARM Holdings, the world's largest chip maker, saw pre-tax profits of £89.4million in the first quarter of 2013, a 44% increase on the same period the previous year.
In its first quarter results released yesterday, the Cambridge based company also reported a 28% rise in revenue to £170.3m in the first three months of the year.
ARM ceo Warren East, pictured, said wearable technology and digital tvs had helped the firm increase its market share, leading to it outpacing the wider semiconductor industry.
The ever increasing demand for smartphones and tablets was also attributed to the company's success.
"ARM has delivered another quarter of strong revenue and earnings growth, driven by robust licensing and record royalty revenue," said East.
"In particular, this quarter ARM saw strong uptake of its next generation, higher royalty bearing ARMv8, Mali and big.LITTLE technology for smartphones and mobile computers."
ARM expects revenues for Q2 to be in line with current market expectations, on the back of what it described as 'tough market conditions'.
