Investing.com - Infineon (OTC:IFNNY) reported on Wednesday fourth quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Infineon announced earnings per share of €0.41 on revenue of €3.01B. Analysts polled by Investing.com anticipated EPS of €0.31 on revenue of €2.93B.
Infineon shares are up 30% from the beginning of the year, still down 4.93% from its 52 week high of €43.22 set on November 9. They are outperforming the Euro Stoxx 50 which is up 22.05% from the start of the year.
Infineon shares lost 1.23% 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 October 21, who reported EPS of €1.74 on revenue of €6.85B, compared to forecasts EPS of €1.46 on revenue of €6.78B.
Software AG had beat expectations on October 21 with third quarter EPS of €0.3 on revenue of €198M, compared to forecast for EPS of €0.274 on revenue of €197.49M.
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