Arm posts record revenues despite owner SoftBank clocking up loss


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

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.

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