Investing.com - Infineon (OTC:IFNNY) reported on Thursday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Infineon announced earnings per share of €0.41 on revenue of €3.16B. Analysts polled by Investing.com anticipated EPS of €0.368 on revenue of €3.06B.
Infineon shares are up 6% from the beginning of the year, still down 19.49% from its 52 week high of €43.85 set on November 19, 2021. They are outperforming the ATX which is up 1.28% from the start of the year.
Infineon shares lost 4.56% in intra-day trade following the report.
Infineon follows other major Information Technology sector earnings this month
Infineon's report follows an earnings beat by SAP on January 27, who reported EPS of €1.86 on revenue of €7.98B, compared to forecasts EPS of €1.71 on revenue of €7.84B.
TeamViewer had missed expectations on Wednesday with fourth quarter EPS of €0.2826 on revenue of €132.3M, compared to forecast for EPS of €0.303 on revenue of €130.97M.
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