Infineon: maintains growth outlook, despite weak dollar.
(CercleFinance.com) - Infineon reported better-than-expected quarterly results on Tuesday and confirmed its outlook for the current fiscal year, despite "strong headwinds" caused by the weaker US dollar.
The German chipmaker said sales in the three months to 30 June, Infineon's third quarter, were up 4% from the previous quarter, slightly ahead of forecasts.
Operating profit reached 298 million euros, compared with 229 million euros in the previous quarter.
The third-quarter gross margin was 38.2%, versus 36.5% in the previous quarter.
"Demand is particularly strong for the power semiconductors we produce for various applications ranging from renewables to data centers," said CEO Reinhard Ploss.
In particular, Infineon said that growing semiconductor content per vehicle is keeping its automotive business buoyant.
Despite significant headwinds from the weaker US dollar in the current quarter, the Munich-based group still expects year-on-year revenue growth of 8 to 11 percent.
Infineon shares were down 0.2% at 18.3 euros after these results.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The German chipmaker said sales in the three months to 30 June, Infineon's third quarter, were up 4% from the previous quarter, slightly ahead of forecasts.
Operating profit reached 298 million euros, compared with 229 million euros in the previous quarter.
The third-quarter gross margin was 38.2%, versus 36.5% in the previous quarter.
"Demand is particularly strong for the power semiconductors we produce for various applications ranging from renewables to data centers," said CEO Reinhard Ploss.
In particular, Infineon said that growing semiconductor content per vehicle is keeping its automotive business buoyant.
Despite significant headwinds from the weaker US dollar in the current quarter, the Munich-based group still expects year-on-year revenue growth of 8 to 11 percent.
Infineon shares were down 0.2% at 18.3 euros after these results.
Copyright (c) 2017 CercleFinance.com. All rights reserved.