Investing.com - Infineon reported on Tuesday third quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Infineon announced earnings per share of €0.13 on revenue of €2.17B. Analysts polled by Investing.com anticipated EPS of €0.05 on revenue of €2.03B.
Infineon shares are up 10% from the beginning of the year and are trading at €22.435 , down-from-52-week-high.They are outperforming the DAX which is down 4.81% from the start of the year.
Infineon shares gained 4.01% in intra-day trade following the report.
Infineon follows other major Technology sector earnings this month
Infineon's report follows an earnings beat by SAP on Monday, July 27, 2020, who reported EPS of €1.17 on revenue of €6.74B, compared to forecasts EPS of €1.12 on revenue of €6.72B.
Sartorius AG VZO had beat expectations on Tuesday, July 21, 2020 with second quarter EPS of €1 on revenue of €546.9M, compared to forecast for EPS of €0.99 on revenue of €546.9M.
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