Qualcomm and SoftBank-backed Arm posted strong quarterly sales growth on Wednesday as the chipmakers benefited from better than expected smartphone demand.
Qualcomm reported revenue of $11.7bn for the quarter to the end of December, above consensus estimates in a S&P Capital IQ poll of $10.9bn and up 17 per cent year on year, and gave March quarter guidance that was above expectations, with a high end of about $11bn.
Arm also beat revenue forecasts for its quarter to the end of December at $983mn, up 19 per cent year on year. The UK chip designer gave guidance for the current quarter of about $1.2bn, in line with estimates.
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