Arm Holdings posts 21% profit increase

ARM Holdings, whose chip designs are used in Apple’s iPad and iPhone, said fourth-quarter revenue climbed 21 per cent as the company increased the number of licenses sold for smartphones and tablet computers.

Fourth-quarter sales rose to £137.8 million from £113.9 million a year earlier, the Cambridge-based company said. That beat analysts’ estimates for revenue of £127 million, according to a Bloomberg survey. – (Bloomberg)