Infineon Technologies announced higher profits and revenue for the first quarter of 2022, and boosted its targets as demand for semiconductors continues to exceed supply.
The German processor company announced that net profit for the quarter to December 31, increased to 457 million euros, from 256 million euros a year ago.
Revenue for the quarter rose to 3.16 billion euros from 2.63 billion euros.
Overall, the demand for semiconductors far exceeds the supply. E-mobility and digitization continue to lead to significant growth in the markets we target, said outgoing CEO Reinhard Ploss.
Adjusted earnings before taxes and interest increased to 717 million Euros from 489 million Euros, with the adjusted margin of EBIT increasing to 22.7% from 18.6%.
Infineon expected quarterly revenues of around € 3 billion, and an adjusted EBIT margin of around 21%.
For the second quarter, the company expects revenues of 3.2 billion Euros and a margin of adjusted EBIT at approximately 22%.
Infineon has upgraded estimates for the year, and now expects revenue of € 13 billion plus / minus € 500 million. It previously expected revenues of 12.7 billion euros.
Source: Capital
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