Infineon Q3 Results Down, Issues Q4 View; Sees FY24 Results Well Within Outlook Range

(RTTNews) - German semiconductor maker Infineon Technologies AG (IFNNY) reported Monday that its third-quarter profit fell 52 percent to 403 million euros from last year's 831 million euros.

Earnings per share from continuing operations was at 0.30 euro, down from last year's 0.63 euro.

Adjusted earnings per share were 0.43 euro, compared to 0.68 euro in the prior year quarter.

Infineon's Group revenue dropped 9 percent to 3.70 billion euros from prior year's 4.09 billion euros.

Looking ahead for the fourth quarter, the company projects revenue of around 4.0 billion euros, and Segment Result Margin at around 20 percent.

For fiscal 2024, the company now projects results well within the previously guided range.

Revenue is expected to be around 15.0 billion euros. The adjusted gross margin is still forecast to be in the low-forties percentage range and the Segment Result Margin to be around 20 percent.

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