Investing.com - Infineon (OTC:IFNNY) 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, still down 38.16% from its 52 week high of €43.85 set on November 19, 2021. 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 July 21, 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.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar