Arm posts record revenues despite Japanese owner SoftBank clocking up mammoth loss following bloodbath in tech stocks
Arm posted record revenues despite its Japanese owner SoftBank clocking up a mammoth loss following a bloodbath in tech stocks.
The Cambridge-based computer chip maker, which designs the processors that run virtually every smartphone on the planet and counts Apple, Qualcomm and Samsung Electronics among its customers, reported record revenues of £594m for the three months to the end of June, up 6 per cent year-on-year.
The number was boosted by royalties – payments companies make to use the firm’s technology and designs – which rose 22 per cent to £374m, the first time the total has surpassed £330m.
Record revenues: The chip maker reported record revenues of £594m for the three months to the end of June, up 6 per cent year-on-year
Arm’s earnings, meanwhile, jumped 31 per cent to £342m. SoftBank, in contrast, posted a record £19.4billion loss in the three months to June compared to a £4.7billion profit in the same period a year ago.
The loss figure came as SoftBank’s Vision Fund, the largest tech-focused fund in the world, was hammered as rising inflation and interest rates battered global technology stocks.