British firm ARM, behind the innovative low-power chips that are enabling the smartphone and tablet revolutions, has just reported its second quarter finances, including profits of £66.5 million ($103.25 million) on sales of £135.5 million. The totals beat analyst expectations, and the profit figure represents a rise of 23% over the same period last year--while revenues are up 15%. The results are impressive given the difficult global economic environment and that ARM's industry peers have variously been down-adjusting their forecasts to suit consumer nervousness and the financial crisis that's affecting Europe so badly. ARM's strong performance is attributed to good global sales of tablets, smartphones, and other devices like smart TVs, and that its licensing revenue streams performed particularly well. Apple licenses ARM designs for its own-branded A-series of chips that power the iPhone, iPad, iPod Touch, and Apple TV.
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