It's not a V bottom, it's not a U bottom, it's a Nike swoosh recovery - Greg McLenon, Hotovec Pomeranz
CHIP DESIGNER ARM has reported good second quarter financial results, with profit rising by 23 per cent to £66.5m.
ARM has been riding high in the public consciousness thanks to firms such as Qualcomm, Texas Instruments and Nvidia pushing its chip architecture into smartphones and tablets. The firm announced it managed to take in £135.5m in revenue during the second quarter, a 15 per cent increase from the same period last year, while net income rose even faster by 23 per cent to £66.5m.
ARM said two billion chips using the firm's various design models were shipped during the quarter, which represented a nine per cent increase from last year. The firm revealed that its core money making operation, processor royalties, rose by 14 per cent.
Warren East, CEO of ARM said, "ARM's royalty revenues continued to outperform the overall semiconductor industry as our customers gained market share within existing markets and launched products which are taking ARM technology into new markets.
"This quarter we have seen multiple market leaders announce exciting new products including computers and servers from Dell and Microsoft, and embedded applications from Freescale and Toshiba. In addition, ARM and TSMC announced a partnership to optimise next generation ARM processors and physical IP and TSMC's FinFET process technology."
East's nod to Dell announcing servers shows how important the server market will become for ARM and its licensees. ARM-based servers are expected to be built with many processors, meaning ever more royalties for ARM.
While other chip vendors have been forecasting a gloomy 2012, ARM said it expects to meet previous revenue forecasts. µ
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