Infineon: 'solid' guidance sends shares up
(CercleFinance.com) - Infineon said that it has achieved its targets for the fourth quarter, bringing a challenging fiscal year to an end on a good note.
On Tuesday the German chipmaker said its operating profit in the quarter ended on 30 September fell to 163 million euros, from 224 million euros the previous quarter.
Even so, fourth-quarter sales rose to 2.06 billion euros from 2.05 billion a year ago.
Demand was particularly strong for power semiconductors for renewable energy applications and sensors for consumer devices, the Munich-based company said in a statement.
For full-year 2019/2020, Infineon said that it expects revenue growth of about 5% (plus or minus 2%), and segment result margin of around 16% at the mid-point of revenue guidance.
Analysts deemed the guidance "solid," and the shares were up over 5% in Frankfurt this morning.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
On Tuesday the German chipmaker said its operating profit in the quarter ended on 30 September fell to 163 million euros, from 224 million euros the previous quarter.
Even so, fourth-quarter sales rose to 2.06 billion euros from 2.05 billion a year ago.
Demand was particularly strong for power semiconductors for renewable energy applications and sensors for consumer devices, the Munich-based company said in a statement.
For full-year 2019/2020, Infineon said that it expects revenue growth of about 5% (plus or minus 2%), and segment result margin of around 16% at the mid-point of revenue guidance.
Analysts deemed the guidance "solid," and the shares were up over 5% in Frankfurt this morning.
Copyright (c) 2019 CercleFinance.com. All rights reserved.