Infineon: trims revenue forecast
(CercleFinance.com) - Infineon has slightly lowered its annual revenue forecast, when it unveiled Q3 numbers, that were penalised by a persistently difficult market environment.
The German semiconductor manufacturer now expects sales of around E15bn (vs. E15.1bn previously), although still expects a segment margin of around 20% and an adjusted gross margin in the low 40s.
The recovery in our target markets is progressing only slowly. Prolonged weakness in economic dynamics has led to inventory levels in many areas that have overlapped with end demand, explains CEO Jochen Hanebeck.
In the three months to the end of June, Infineon posted adjusted EPS that is down 37% y-o-y to E0.43, with segment and adjusted gross margins down to 19.8% and 42.2% respectively, on revenues that fell 9% to E3.7bn.
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The German semiconductor manufacturer now expects sales of around E15bn (vs. E15.1bn previously), although still expects a segment margin of around 20% and an adjusted gross margin in the low 40s.
The recovery in our target markets is progressing only slowly. Prolonged weakness in economic dynamics has led to inventory levels in many areas that have overlapped with end demand, explains CEO Jochen Hanebeck.
In the three months to the end of June, Infineon posted adjusted EPS that is down 37% y-o-y to E0.43, with segment and adjusted gross margins down to 19.8% and 42.2% respectively, on revenues that fell 9% to E3.7bn.
Copyright (c) 2024 CercleFinance.com. All rights reserved.