Infineon confirms twice-lowered guidance for 5% revenue growth

As it reported flat second-quarter sales that were in line with its most recent guidance

Reuters May 07, 2019
A close-up of a Infineon microcontroller kit XMC 4700 is pictured at an exhibition during the German semiconductor manufacturer Infineon's annual shareholder meeting in Munich, February 21, 2019. PHOTO: REUTERS

FRANKFURT: German chipmaker Infineon Technologies stood by its twice-lowered revenue forecast on Tuesday, as it reported flat second-quarter sales that were in line with its most recent guidance.

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The maker of power chips used in cars, server farms and smartphones still expects revenue of 8 billion euros ($8.97 billion), plus or minus 2 per cent, in the year to September 30. That would represent a 5 per cent gain from a year earlier.

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