Infineon Q3 revenue slightly above forecast on mixed semiconductor market
2023.08.03 02:27
© Reuters. FILE PHOTO: A general view of construction site next to Infineon Technologies AG building on the day of German Economy Minister Robert Habeck and Foreign Minister Annalena Baerbock’s visit, in Dresden, Germany July 13, 2023. REUTERS/Annegret Hilse/file ph
BERLIN (Reuters) -German chipmaker Infineon (OTC:) on Thursday reported slightly better than expected quarterly revenue as the market for semiconductors remains a mixed picture.
Infineon, whose chips are used in cars and data centres, reported third-quarter revenue of 4.09 billion euros ($4.47 billion), slightly above expectations of 4.05 billion euros in a company-provided consensus of analysts.
“Semiconductor market trends continue to present a mixed picture with both light and shade,” said Chief Executive Jochen Hanebeck, with demand high in electromobility and renewable energy but low for consumer products like PCs and smartphones.
Infineon’s quarterly adjusted, or “segment”, result was down 10% from the previous quarter at 1.067 billion euros, while its margin came in slightly lower than expected, at 26.1%.
The company confirmed its outlook for the financial year for revenue of around 16.2 billion euros, with investments amounting to approximately 3 billion euros.
One focus of that investment is construction at its site in Malaysia, where it said on Thursday it plans to build the world’s largest 200-millimeter SiC Power Fab.
($1 = 0.9149 euros)
