Infineon: lowers full-year guidance as sales weak
(CercleFinance.com) - Infineon expects growth for its current fiscal year to be at the lower end of expectations, which has resulted in the shares of the German chipaker falling slightly.
Revenue growth is now expected to be at the lower end of the forecast range, which corresponds to year-on-year growth of 9%, the group said, citing an "increasingly difficult" business environment.
Due to seasonal factors, revenue slipped 4% to 1.97 billion euros in the first quarter of FY 2019, burdened by the automotive and industrial power control segments.
First-quarter operating income fell to 327 million euros, down about 12% from the previous quarter's 370 million euros.
This weakness seems to have weighed on the shares this morning: the Infineon share is currently down 0.6%.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Revenue growth is now expected to be at the lower end of the forecast range, which corresponds to year-on-year growth of 9%, the group said, citing an "increasingly difficult" business environment.
Due to seasonal factors, revenue slipped 4% to 1.97 billion euros in the first quarter of FY 2019, burdened by the automotive and industrial power control segments.
First-quarter operating income fell to 327 million euros, down about 12% from the previous quarter's 370 million euros.
This weakness seems to have weighed on the shares this morning: the Infineon share is currently down 0.6%.
Copyright (c) 2019 CercleFinance.com. All rights reserved.