An employee inspects a wafer at the Infineon Technologies AG microchip and sensor manufacturing facility in Regensburg, Germany. Infineon designs, manufactures and markets semiconductors for the automotive, industrial, communications, consumer and security electronics sectors. - Bloomberg filepic
BERLIN: German chipmaker Infineon reported forecast-beating third-quarter revenue on Tuesday, sending its shares higher as CEO Reinhard Ploss said that the worst of the auto industry slump had passed.
Shares in Munich-based Infineon rallied by 4.6% as revenue increased 9% from the prior quarter to 2.174 billion euros ($2.56 billion), while segment result margin, the company's preferred measure of profitability, narrowed to 10.1% from 13.8%.
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