Infineon Registers 33% Revenue Growth In Q3 Backed By Automotive, Systems Revenues

Infineon Technologies AG 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.

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