Infineon Swings to a Profit – Revenue of $2.75 billion
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Infineon Technologies swung to a profit in its fiscal first quarter, as strong sales in its recently divested memory business helped offset challenges in its wireless business. The German chipmaker on Monday reported revenue of 2.13 billion euros, or $2.75 billion, in its fiscal first quarter, compared with 1.67 billion euros a year ago.
Infineon’s net income was 120 million euros, or 0.15 euros a share, vs. a net loss a year ago of 183 million euros. Infineon CEO Wolfgang Ziebart said Infineon’s first-quarter results came out better than expected in a “challenging” operating environment. Shares of Infineon were up 1.1%, or 16 cents, at $14.55.
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