Arm Holdings, the chip designer whose technology is in almost all of the world’s smartphones, reported first-quarter sales that beat analysts’ predictions on the success of the latest generation of handsets.
Revenue increased 22pc to £227.5m, or rose 14pc to $348.2m as reported in dollars, the Cambridge, England-based company said in a statement. That compared with the £224.4m average estimate from analysts, according to data compiled by Bloomberg.
Arm is being buoyed by a surge in smartphones that take advantage of its more powerful architecture for 64-bit semiconductors found in newer devices, such as Apple’s iPhone 6 and Samsung's S6, which went on sale this month. Royalty revenue, the money Arm gets when devices that use its licenses are sold, rose 28pc to $184.7m in the quarter from a year ago.... and our shares in it are worth £26,972.46 as of this morning. Up 257.82% since we bought them.
It's results also came out on the day that I finally arranged to bin my unused land line and become smartphone only. I swap from BT to Virgin (the only broadband supplier who don't insist you have a landline) on May 5.