Smart Cars and 5G in ARM's Sights as Sales Beat Estimates
- Company pushing into smart cars, network equipment and IoT
- Record number of new licensing deals signed in the quarter
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ARM Holdings Plc, the British chip designer whose technology is found in most smartphones, reported first-quarter sales that narrowly beat analyst expectations as the company pushed into new market segments, from networking equipment to smart cars.
Revenue gained 22 percent to 276.4 million pounds ($397.2 million) from a year earlier, the Cambridge, England-based company said Wednesday. Analysts had forecast 273 million pounds on average, according to data compiled by Bloomberg. As measured in U.S. dollars, ARM said sales rose 14 percent.