Infineon Technologies Swung to Loss in 3Q
August 04 2020 - 2:38AM
Dow Jones News
By Cecilia Butini
Infineon Technologies AG on Tuesday posted an after-tax loss for
the third quarter of its fiscal year, while revenue rose.
The German chip maker reported a quarterly loss of 128 million
euros ($150.6 million), compared with a profit of EUR224 million in
the same period of the previous fiscal year.
Revenue for the period increased to EUR2.17 billion compared
with EUR2.02 billion the year prior.
The company's segment result margin came in at 10.1%, compared
with 15.7% a year earlier, it said.
"The pandemic continues to have a significant impact on our
target markets, resulting in weaker demand in many product areas,"
Chief Executive Reinhard Ploss said.
Infineon confirmed its guidance for the year, which includes
revenue of around EUR8.5 billion and a segment result margin of
about 13%.
The company forecasts fourth-quarter revenue for the group to be
in the range of EUR2.3 billion to EUR2.6 billion.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
August 04, 2020 02:23 ET (06:23 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Infineon Technologies (QX) (USOTC:IFNNY)
Historical Stock Chart
From Mar 2024 to Apr 2024
Infineon Technologies (QX) (USOTC:IFNNY)
Historical Stock Chart
From Apr 2023 to Apr 2024