Chipmaker Infineon narrows revenue outlook after Q3 result misses forecast

ReutersLast Updated: Aug 05, 2024, 11:19:00 AM IST

Synopsis

German chipmaker Infineon reported third-quarter revenue of 3.702 billion euros ($4.04 billion), falling short of the 3.8 billion euros forecast in a company-provided consensus.

German chipmaker Infineon narrowed its full-year revenue outlook on Monday after it missed expectations for third-quarter revenue as a recovery in its target markets is proceeding slowly.

The company reported third-quarter revenue of 3.702 billion euros ($4.04 billion), falling short of the 3.8 billion euros forecast in a company-provided consensus.

For the full year, Infineon now expects revenue of around 15.0 billion euros, versus prior guidance for 15.1 billion euros ($16.3 billion), plus or minus 400 million euros, for the year. ($1 = 0.9149 euros)