Infineon Meets Targets After Better-Than-Expected Revenue, Net Profit
15 Novembro 2023 - 4:45AM
Dow Jones News
By David Sachs
Infineon Technologies met its fiscal 2023 targets and proposed a
higher dividend after beating expectations for net profit and
revenue in its fourth quarter.
The German chip company said on Wednesday that fourth-quarter
net profit reached 753 million euros ($819.2 million) compared with
EUR735 million in the fourth quarter of last year. Analysts had
expected net profit of EUR674.8 million, according to FactSet.
Revenue was EUR4.15 billion compared with EUR4.14 billion.
Analysts polled by FactSet had expected revenue of EUR4.04 billion,
while the company had targeted around EUR4 billion.
Infineon's segment result, a key metric for the company, was
EUR1.04 billion, compared with EUR1.06 billion a year ago. Its
margin dipped to 25.2% from 25.5%.
The chip maker hit its annual targets for revenue and segment
result margin for the year, posting sales of EUR16.31 billion and a
segment result margin of 27%. Guidance for fiscal 2023 was revenue
of EUR16.2 billion and a segment result margin of around 27%.
The company said it is targeting a lower segment result margin
in 2024 of around 24%. It is aiming for around EUR17 billion in
revenue, Infineon said.
Infineon proposed a fiscal 2023 dividend of EUR0.35 per share,
up from EUR0.32.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
November 15, 2023 02:30 ET (07:30 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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