May 4, 2017 / 5:53 AM / 9 months ago

Infineon Q2 oper profit up 30 pct on auto, industrial demand

FRANKFURT, May 4 (Reuters) - German chipmaker Infineon on Thursday reported a 30 percent rise in second-quarter operating profit helped by its automotive and industrial activities.

The maker of chips that enable cruise control in cars and warn drivers of potential collisions said operating profit excluding special items rose to 296 million euros ($322 million).

That was slightly below the average prediction of 299 million euros in a Reuters analysts’ poll, with individual estimates of 11 analysts ranging from 273 million euros to 303 million.

Infineon confirmed its full-year outlook for revenue to rise between 8 and 11 percent, with an operating margin of around 17 percent.

Infineon, whose customers include premium carmakers such as Daimler and Tesla as well as automotive supplier Continental, in March raised its full-year outlook on the back of strong demand from China for its automotive chips. ($1 = 0.9179 euros) (Reporting by Harro ten Wolde; Editing by Ludwig Burger)

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