Arm grew in Q1 but parent SoftBank reports $23.5b in losses

Chip designer Arm booked record revenues for the Q1 ended June 30 and was one of the bright spots in an otherwise loss-heavy start to fiscal 2023 for Japanese parent SoftBank's Vision Fund.it generated $719 million in revenue, up 6 percent year-on-year, including $453 million in chip royalties, up 22 percent on the same quarter of 2021 and an all-time high.

According to the profit and loss accounts, Arm's customers shipped 7.4 billion Arm-based devices, making this the fourth quarter of more than 7 billion chips being shipped. Earnings before income tax, depreciation and amortization grew 31 percent to $414 million and margin was 58 percent. Execs think the numbers show Arm's strategy to diversify beyond mobile in other sectors such as automotive and"Arm continues to enable our ecosystem with compute performance and efficiency leadership through a transformed strategy," said CEO Rene Haas in a statement."Together, we are meeting the insatiable demand for compute and defining the future of computing that will power the next great technology revolutions on Arm.

Source: News Formal (newsformal.com)

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