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ARM profits up 22% in Q3

British chip designer ARM has posted its third quarter financial report which shows an overall increase in profits by 22 per cent.

The Cambridge based firm’s 22 per cent growth refers to its pre tax earnings of £68.1 million. The processor developer has also seen a double-digit rise in revenue by 20 per cent to £144.6 million.

The rise in profits has been ascribed to the company's continued growth in other markets, namely the provision of smart TV processors and microcontrollers.

This diversity of products looks to keep ARM in good stead with growing demand in its cloud based networks and mobile computing offerings.