Infineon Technologies Swung to Loss in 3Q

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 [e-mail]

(END) Dow Jones Newswires

August 04, 2020 02:23 ET (06:23 GMT)

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