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- Infineon Technologies AG IFNNY reported second-quarter FY21 revenue growth of 36% year on year to €2.7 billion.
- Automotive revenue rose 45% to €1.2 billion; Industrial Power Control revenue stood flat at €361 million; Power & Sensor Systems revenue rose 28% to €787 million; Connected Secure Systems revenue rose 98% to €329 million, and Other Operating Segments revenue rose 3% to €4 million.
- Infineon's manufacturing facilities were running at full speed, and the company continued to invest in the additional capacity, CEO Dr. Reinhard Ploss said.
- Ploss talked about bottlenecks in segments where it depended on chips supplied by foundries, especially in automotive microcontrollers and IoT products.
- Adjusted gross margin expanded 370 basis points to 39.3%, and operating income rose 17% to €209 million.
- Adjusted net income rose 84.4% to €308 million, with adjusted EPS of €0.24.
- The company generated €742 million in operating cash flow.
- Guidance: Q3 revenue guidance lies between €2.6 billion and €2.9 billion.
- Price action: IFNNY shares traded lower by 5.62% at $38.65 on the last check Tuesday.
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