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- Infineon Technologies AG (OTC:IFNNY) reported third-quarter FY22 revenue growth of 33% year on year to €3.62 billion.
- Automotive revenue rose 41% to €1.7 billion; Industrial Power Control revenue grew by 6% Y/Y to €436 million; Power & Sensor Systems revenue rose 35% to €1.02 billion; Connected Secure Systems revenue rose 32% to €456 million.
- Adjusted gross margin expanded 360 basis points to 45.4%, and operating income rose 98.8% to €690 million.
- Adjusted EPS was €0.49 versus €0.27 last year.
- The company generated €996 million in operating cash flow and held €1.6 billion in cash and equivalents.
- Guidance: Infineon sees Q4 revenue of €3.9 billion.
- Infineon boosted the FY22 revenue guidance from €13.5 billion to €14 billion.
- Price Action: IFNNY shares traded higher by 2.40% at $27.72 in the premarket on the last check Wednesday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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