Please use symbol entry at top right of page to search

Chipmaker Infineon raises 2022 revenue outlook after results beat

STOCKHOLM, May 9 (Reuters) - Infineon, the leading supplier of microchips to the auto industry, reported on Monday a 22% rise in second-quarter revenue and lifted its full-year outlook as it benefits from a global shortage of semiconductors.

The Munich-based company raised its 2022 revenue for the second time by 500 million euros ($525.20 million) to around 13.5 billion euros, including a range of plus or minus 500 million euros.

It also forecast third-quarter revenue of 3.4 billion euros, ahead of expectations of 3.26 billion euros, according to IBES data from Refinitiv.

"Global uncertainties, in particular the war in Ukraine and the further course of the corona­virus pandemic, are placing stress on supply chains," CEO Jochen Hanebeck said in a statement.

"Demand for our products and solutions continues to exceed supply significantly," he said.

Infineon's revenue grew to 3.30 billion euros in the second quarter, ahead of expectations of 3.21 billion euros. ($1 = 0.9520 euros) (Reporting by Supantha Mukherjee, European Technology & Telecoms Correspondent, based in Stockholm; Editing by Simon Johnson and Muralikumar Anantharaman)

Copyright © Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

Search News

Filter Results

Publication Date
Topic
Provider

News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.