ARM Holdings Profit Boosted by Smartphone Demand
U.K. chip designer ARM Holdings PLC, whose technology is used in Apple Inc.’s iPhone, said Tuesday it had a record order backlog going into the final fiscal quarter as it posted a rise in third-quarter profit on strong global demand for smartphones.
Net profit for the three months to Sept. 30 increased to £48.5 million ($78.3 million) from £41.3 million a year earlier. Profit before tax and exceptional items, a closely watched metric, increased 36 percent to £92.6 million.
