Chip designer ARM’s Q4 profit beats expectations

LONDON (Reuters) – British chip designer ARM reported a better-than-expected 16 percent rise in pretax profit in the fourth quarter as it rode the wave of soaring sales of smartphones and tablets, nearly all of which contain its technology. The Cambridge-based group, which licenses its processor designs to chipmakers, reported pretax profit of 80 million pounds ($ 125.9 million) on revenue of 164.2 million pounds, equating to earnings per share of 4.08 pence. …

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