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ARM posts spectacular results
Suck this Intel
Maker of mobile chips, ARM has posted some spectacular results. Revenues are up 20 per cent year on year to £144.6 million British pounds, profits are up 22 per cent year on year to £68.1 million British pounds.
The company said more people were getting excited about its Mali graphics processors too which means more cash in the future. ARM CEO Warren East said in a statement that ARM is seeing increased demand for its high performance and low power technology. The demand for more moble gear was driving ARM's licensing revenues and this quarter it saw market leaders license ARM's advanced processor technology for next generation super smartphones, tablets and mobile and embedded computing applications, he said.
ARM had gone into the fourth quarter with a record order book with five licenses for its Mali graphics core with three of the customers new ones for the product and he expected revenues to be in line with current expectations, despite the overall gloomy global economic picture.
Meanwhile ARM said that it was still on the lookout for strategic opportunities and had committed £104.5m towards a possible investment. If the deal does not happen, the money will be returned to ARM.
The chipmaker appears to be doing a lot better than its rival Intel.