Infineon Technologies AG, the German semiconductor manufacturer, announced Monday that its third-quarter profit experienced a significant decline, falling by 52% to €403 million from €831 million in the same period last year.Earnings per share from continuing operations decreased to €0.30, compared to €0.63 in the previous year. Adjusted earnings per share also saw a drop, registering at €0.43, down from €0.68 in the prior-year quarter.The company’s Group revenue fell by 9%, coming in at €3.70 billion, down from €4.09 billion last year.Looking ahead to the fourth quarter, Infineon projects revenue of approximately €4.0 billion and anticipates a Segment Result Margin of around 20%.For fiscal year 2024, the company expects financial results to remain well within its previously guided range. Revenue is projected to be around €15.0 billion. The adjusted gross margin is forecasted to stay in the low-40% range, with the Segment Result Margin expected to be around 20%.The material has been provided by InstaForex Company – www.instaforex.com
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