Infineon Technologies 1Q Net Profit, Revenue Fell

Date : 02/05/2020 @ 7:28AM
Source : Dow Jones News
Stock : Infineon Technologies AG (QX) (IFNNY)
Quote : 14.42  0.0 (0.00%) @ 8:59PM
Infineon Technologies (QX) share price Chart

Infineon Technologies 1Q Net Profit, Revenue Fell

Infineon Technologies (QX) (USOTC:IFNNY)
Historical Stock Chart

2 Months : From Feb 2020 to Apr 2020

Click Here for more Infineon Technologies (QX) Charts.
   By Mauro Orru 

Infineon Technologies AG (IFX.XE) said Wednesday that net profit and revenue for the first quarter of its fiscal year fell amid a difficult environment.

The German chip maker said net profit for the quarter ended Dec. 31 fell to 210 million euros ($232 million) from EUR254 million in the first quarter last year, while revenue decreased to EUR1.92 billion from EUR1.97 billion.

Infineon said in November 2019 that it expected revenue to drop roughly 7% year-on-year in the first quarter.

"Under difficult conditions, revenue fell in line with expectations," said Chief Executive Reinhard Ploss, adding that "we do not expect to see a broad based recovery of demand before the second half of the fiscal year."

The company reported a gross margin of 37% for the quarter, down from 39.5% for the same period last year, while its closely watched segment result margin fell to 15.5% from 18.2% last year.

Infineon said it continues to expect year-on-year revenue growth of 5% for 2020, plus or minus 2%, with a segment result margin of about 16%.


Write to Mauro Orru at; @MauroOrru94


(END) Dow Jones Newswires

February 05, 2020 02:13 ET (07:13 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

Latest IFNNY Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....

No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts
Your Recent History
Gulf Keyst..
FTSE 100
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:us D:20200404 17:27:48