By Infineon Technologies, the German chip maker, has maintained its guidance for the year following an increase in revenue for its fiscal third quarter, despite a difficult market environment.
Strong Performance in Electromobility and Renewable Energy
In the three months ending June 30, Infineon reported revenue of €4.09 billion ($4.47 billion), a 13% increase compared to the same period last year. The automotive business segment contributed €2.13 billion to the total revenue.
According to CEO Jochen Hanebeck, there has been a sustained demand for electromobility, renewable energy, and related applications. However, there has been a decrease in demand for consumer applications such as PCs and smartphones.
Impressive Financial Results
Infineon’s net profit rose to €831 million from €517 million, demonstrating a significant increase. The segment result, a crucial profitability metric, reached €1.07 billion, compared to €842 million in the previous year, resulting in a margin of 26.1%.
Meeting Expectations and Looking Ahead
Infineon had projected third-quarter revenue of approximately €4 billion, with a segment result margin of about 26%. These targets were achieved successfully.
For the fourth quarter of the fiscal year, Infineon aims to generate revenue of around €4 billion, with a segment result margin of about 25%.
Looking ahead to fiscal 2023, Infineon maintains its expectation of achieving a revenue of €16.2 billion, with a segment result margin of around 27%.
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