NEUBIBERG (dpa-AFX) - German semiconductor company Infineon Technologies AG (IFNNY) reported Wednesday that its third-quarter profit more than doubled to 517 million euros from 245 million euros last year.
Earnings per share were 0.39 euro, up from 0.18 euro a year ago. Adjusted earnings per share were 0.49 euro, compared to last year's 0.27 euro.
In the third quarter, Group revenue grew 33 percent to 3.62 billion euros from last year's 2.72 billion euros, driven by significant increase in Automotive and Power & Sensor Systems segments.
Looking ahead for the fourth quarter, Infineon expects to generate revenue of around 3.9 billion euros, equivalent to sequential growth of 8 percent. At the forecast level of revenue, the Segment Result Margin is expected to be about 25 percent.
Further, for fiscal 2022, the company raised revenue view, and now expects around 14 billion euros, compared with the previous forecast of 13.5 billion euros. The Segment Result Margin is now expected to exceed 23 percent, compared to above 22 percent in the previous forecast.
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