U.K. microchip designer ARM Holdings delivered a bigger-than-expected rise in second-quarter profit Wednesday, outperforming the broader industry as it benefits from the rising popularity of smartphones and tablets.
ARM said it is entering the second half of the year with a “record order backlog and a robust opportunity pipeline,” and forecast its annual revenue will be in line with market expectations of $875 million, up 12 percent from $785 million last year.
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