San Francisco (Reuters) – Chip designer Arm Holdings posted more sales in the second quarter than in the same period last year.
The company benefited from the sale of iPhones from the Apple Group, Arm announced on Wednesday after the US stock market closed. The British chip designer reported a profit of 30 US cents per share for the past quarter, adjusted for share-based compensation, among other things. Analysts had expected a profit of 26 cents per share. Arm’s revenue rose 5 percent to $844 million, compared with analyst estimates of $808.4 million.
However, the company forecast sales for the current quarter that were only in the middle of estimates. Arm expects revenue between $920 million and $970 million, with a median of $945 million, compared to an average analyst estimate of $944.3 million. The company expects third-quarter earnings to be between 32 and 36 cents per share. Analysts had expected a profit of 34 cents per share for the third quarter.
Arm collects a royalty fee for every chip sold that uses its technology. Arm’s designs power nearly every smartphone in the world.
(Report by Max A. Cherney, written by Birgit Mittwollen; Edited by Scot W. Stevenson; If you have any questions, please contact our editorial team at [email protected] (for politics and economics) or frankfurt.newsroom@thomsonreuters. com (for companies and markets).)
