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ARM Sales Beat Estimates as Chip Designs Win Higher Prices

ARM Holdings Plc, the chip designer whose products appear in almost all of the world’s smartphones, reported third-quarter revenue that beat analysts’ estimates as it won customers for newer, more expensive technology. The stock rose.

Revenue gained 24 percent to 243.1 million pounds ($375 million), the Cambridge, England-based company said Wednesday. Analysts had predicted 240.9 million pounds on average, according to data compiled by Bloomberg. As measured in U.S. dollars, ARM said sales rose 17 percent.

The company is overcoming a slowdown in smartphone growth with its higher-margin designs for 64-bit semiconductors. These more powerful chips are found in newer devices that need to process more information, such as Apple Inc.’s iPhone 6 and Samsung Electronics Co.’s S6, and may ultimately end up in half of all...