Chip designer ARM's Q4 profit beats expectations
LONDON (Reuters) - British chip designer ARM reported a better-than-expected 16 percent rise in pretax profit in the fourth quarter as it rode the wave of soaring sales of smartphones and tablets, nearly all of which contain its technology.
The Cambridge-based group, which licenses its processor designs to chipmakers, reported pretax profit of 80 million pounds ($125.9 million) on revenue of 164.2 million pounds, equating to earnings per share of 4.08 pence.
ARM said it expected to continue to outperform the wider semi-conducter market in 2013, helped by its presence in fast-growing sectors like tablets, and expected full-year revenue to be at least in line with market expectations.
Analysts were expecting the group to report pretax profit of 75.6 million pounds on revenue of 152.2 million pounds.
(Reporting by Paul Sandle; Editing by David Goodman)