FRANKFURT, Aug 1 (Reuters) - Germany’s Infineon Technologies on Wednesday reported forecast-beating third-quarter results and raised its outlook for the full year as strong demand in the automotive sector drove growth.
Quarterly revenues came in at 1.941 billion euros ($2.27 billion), up by 6 percent from both the previous year and quarter and ahead of expectations of 1.925 billion euros in a Reuters poll of 10 analysts.
Adjusted earnings per share, at 0.24 euros, were just ahead of poll expectations of 0.23 cents.
Infineon forecast sequential growth in revenues of 3 percent in the current quarter, putting it on course to achieve top-line growth of 6.4 to 7.4 percent in the year to Sept. 30. It also saw a segment result margin of 17.5 percent for the full year, at the mid-point of its revenue guidance.
Infineon’s shares were indicated 1.9 percent higher after the results. ($1 = 0.8565 euros) (Reporting by Douglas Busvine Editing by Maria Sheahan)