Arm Sales Rise as SoftBank Targets 2023 IPO for Chip Firm
- SoftBank founder Son has high hopes for Arm public offering
- Arm is seeking to expand beyond smartphones into computers
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Arm Ltd., the chip design firm owned by SoftBank Group Corp., reported a 28% increase in revenue for the latest quarter as it prepares for a highly anticipated initial public offering this year.
Revenue rose to $746 million from $581 million a year earlier, driven by an increase in internet-of-things gadget adoption and highly royalty rates in smartphones.