Infineon (IFNNY) Q3 Earnings Miss Estimates, Revenues Up Y/Y
Zacks Investment Research | Aug 01, 2019 10:35PM ET
Infineon Technologies AG (OTC:IFNNY) reported third-quarter fiscal 2019 adjusted earnings of €0.23 per share (or approximately 26 cents per share), lagging the Zacks Consensus Estimate pegged at 29 cents. Moreover, the figure declined 4.2% from the year-ago quarter.
Revenues increased 4% year over year to €2,015 billion (or almost $2.264 billion) in the reported quarter.
Strength in three of the company’s four business segments — Automotive (ATV) Industrial Power Control (IPC) and Power Management & Multimarket (PMM) — aided the top line.
Segmental Highlights
ATV accounted for 44% of total revenues, advancing 6% year over year to €888 million. The segment witnessed robust adoption of advanced driver assistance systems (ADAS), and electric drive train devices during the quarter.
IPC represented 18% of total revenues, increasing 2% year over year to €357 million. Sturdy adoption of products utilized in wind power plants, photovoltaic devices, and industrial drives aided results.
Infineon Technologies AG Price, Consensus and EPS Surprise
Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.