Infineon Technologies ups 2015 guidance on Rectifier consolidation, weaker euro
Infineon Technologies on Tuesday posted better-than-expected second-quarter revenue of €1.48bn, up from €1.13bn the previous quarter mainly due to the consolidation of International Rectifier, increased demand for Chip Card & Security products and positive currency developments.
Infineon Technologies AG
€30.89
20:24 18/04/24
Xetra DAX
17,837.40
17:00 18/04/24
"Infineon has recorded a big revenue jump in the second quarter. Business was running very well, with additional tailwinds provided by the acquisition of International Rectifier and the strong dollar," stated chief executive officer Dr. Reinhard Ploss.
"The signals we are receiving from our markets are generally positive. We are making good progress with the integration of International Rectifier. Our strategy is paying off and Infineon remains on a growth path."
Looking ahead, the German chipmaker said that on an assumed exchange rate of $1.10 to the euro from $1.20 previously, it expects to year-on-year revenue growth of 34-38% from last year, up from a previous forecast of 10-14%.