Infineon Raises Revenue Forecasts Amid Stronger Auto Sales
An employee works in the Infineon Technologies AG chip factory in Villach, Austria.
Photographer: Akos Stiller/BloombergThis article is for subscribers only.
German chipmaker Infineon Technologies AG raised its revenue forecasts for the quarter and the full year, citing stronger-than-expected demand for its automotive and industrial products.
The company now sees second-quarter revenue at more than €4 billion ($4.3 billion), up from an earlier forecast of €3.9 billion and well above analysts’ estimates, it said in a statement on Tuesday. The company said full-year sales will also be “meaningfully above” its previous estimate of about €15.5 billion, plus or minus €500 million.