Infineon Profitability, Sales Beat Forecast; Shares Rise
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Infineon Technologies AG, Europe’s second-largest chipmaker, said second-quarter sales and profitability beat the company’s own forecast on surging demand for automotive and industrial semiconductors.
The operating margin reached 20 percent on sales of 994 million euros ($1.4 billion) in the three months through March, Neubiberg, Germany-based Infineon said in a statement today, citing preliminary figures. In February, it forecast a margin of 18 percent to 20 percent and sales to be “slightly” higher than the 922 million euros in the first quarter.