Infineon Technologies Q2 Profit Down

(RTTNews) - German semiconductor company Infineon Technologies AG (IFNNY) Monday reported second-quarter net income of 178 million euros or 0.13 euro per share, down from 210 million euros or 0.16 euro per share last year.

Group revenue grew in the second quarter to 1.986 billion euros from 1.916 billion euros last year.

Quarter-on-quarter, with all four segments - Automotive (ATV), Industrial Power Control (IPC), Power & Sensor Systems (PSS)[1] and Digital Security Solutions (DSS) - contributing to the 4 percent increase.

Looking forward to fiscal year 2020, Infineon expects to generate revenues of around 7.6 billion euros.

For the third-quarter Infineon expects revenues to be between 1.9 billion and 2.3 billion euros.