IFNNY Infineon Technologies AG (QX)

By Pierre Bertrand

Infineon Technologies AG raised its guidance Tuesday for second fiscal-quarter and full fiscal-year revenue and segment result margin based on what it said were resilient business dynamics in its core automotive and industrial segments.

The German chip maker said that it expects its second fiscal-quarter revenue to come in above 4 billion euros ($4.32 billion) compared with around EUR3.9 billion previously.

The company said that its 2Q segment result margin is now expected to reach a high-twenties percentage, compared with around 25% previously.

For fiscal 2023, the company said that it forecasts it will achieve revenue "meaningfully above" the previously expected level of around EUR15.5 billion, plus or minus EUR500 million.

It added that it expects a corresponding positive impact on its fiscal 2023 segment result margin.

Infineon's segment result is a key profitability metric.

Write to Pierre Bertrand at pierre.bertrand@wsj.com

(END) Dow Jones Newswires

March 28, 2023 13:20 ET (17:20 GMT)

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