British chipmaker ARM Holdings (NASDAQ:ARMH) posted stronger-than-expected fourth-quarter earnings, helped by rising demand for smartphones and other mobile devices, as well as continued market share gains.
The Cambridge, UK-based company posted a profit before tax of 47.6 million pounds, or $76.7 million, up about 47% compared with 32.3 million pounds in the same quarter last year.
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Revenue for the designer of microprocessors and physical intellectual property was $179.6 million, up 28% from $140 million a year ago, ahead of average analyst estimates polled by Thomson Reuters of $161.43 million.
“ARM continues to sign licenses with influential market leaders in an increasingly digital word,” said Warren East, the company’s chief executive. “2011 will bring exciting opportunities and challenges as ARM enter competitive new markets and we are well position to succeed.”
The company expects revenue for 2011 to be at least in line with estimates of $695 million, as it continues to expand its presence and captures more market share.