Handy results put ARM on track for a muscular year
More fingers being placed in various technology pies
Chip designer ARM has posted another period of growth, with revenue up 17 per cent to $375.5m (£243m) for the third quarter, when compared with the previous year.
Meanwhile, third-quarter pre-tax profit climbed 27 per cent to £128.4m, compared with the same period last year.
ARM appears to be on track for a record year, with the Cambridge-based outfit's results being posted on the back of a bumper second quarter, with both revenue and profit up 22 per cent and 32 per cent respectively in July.
Yet, that didn't stop its shares being dragged down by Apple's (a company whose fortunes are closely coupled with its own) "disappointing" results.
As such, it seems ARM is keen to breakout from its dependency on the smartphone market.
The company has already been undergoing a refresh of its chips, having yesterday unveiled its Mali-470 processor aimed at the "wearables" and the "internet of things" (IOT) market.
Simon Segars, ARM chief exec, noted the company is already designing chips "in a wide range of devices", including smartphones, enterprise equipment such as base stations and servers, and consumer electronics, such as digital TVs.
"ARM technology is being deployed in an increasingly diverse range of products and markets, from the ubiquitous sensors that will form the internet of things, to energy-efficient smartphones, to high-performance servers." ®