Investing.com - Infineon (OTC:IFNNY) reported on Monday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Infineon announced earnings per share of €0.44 on revenue of €3.3B. Analysts polled by Investing.com anticipated EPS of €0.417 on revenue of €3.22B.
Infineon shares are down 35% from the beginning of the year, still down 39.94% from its 52 week high of €43.85 set on November 19, 2021. They are under-performing the STOXX 600 which is down 13.5% from the start of the year.
Infineon shares lost 3.50% 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 April 22, who reported EPS of €1 on revenue of €7.08B, compared to forecasts EPS of €1.16 on revenue of €6.89B.
Nemetschek AG had beat expectations on April 28 with first quarter EPS of €0.37 on revenue of €192.2M, compared to forecast for EPS of €0.3325 on revenue of €186.72M.
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