Arm has reported revenue of $719 million (+6 percent) in April-June 2022 as its strategy of diversifying into markets beyond mobile, such as automotive and infrastructure, is paying off with strong growth.

Arm said it achieved a record quarterly royalty revenue of $453 million (+22 percent). This is the first time the quarterly royalty revenue has been higher than $400 million.

Arm partners shipped 7.4 billion Arm-based chips, up 7 percent year-over-year. Arm has now achieved four quarters of more than 7 billion Arm-based chips shipped.

Arm said Adjusted EBITDA was $414 million, up 31 percent year-over-year and 58 percent margin.

“Arm continues to enable our ecosystem with compute performance and efficiency leadership through a transformed strategy. We are meeting the insatiable demand for compute and defining the future of computing that will power the next great technology revolutions on Arm,” Rene Haas, CEO of Arm, said in a news statement.