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ARM Holdings Profit Boosted by Smartphone Demand

Published on October 22, 2013
by Simon Zekaria

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.

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