Investing.com - Infineon reported on Wednesday third quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Infineon announced earnings per share of €0.49 on revenue of €3.62B. Analysts polled by Investing.com anticipated EPS of €0.4367 on revenue of €3.46B.
Infineon shares are down 33% from the beginning of the year and are trading at €27.113 , down-from-52-week-high.They are under-performing the DAX which is down 15.15% from the start of the year.
Infineon shares gained 2.47% in intra-day trade following the report.
Infineon follows other major Information Technology sector earnings this month
Infineon's report follows an earnings missed by SAP on Thursday, July 21, 2022, who reported EPS of €0.96 on revenue of €7.52B, compared to forecasts EPS of €1.06 on revenue of €7.33B.
Nemetschek AG had beat expectations on Friday with second quarter EPS of €0.4 on revenue of €203.85M, compared to forecast for EPS of €0.3542 on revenue of €196.17M.
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