Infineon adjusts revenue outlook after missing quarterly forecast
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 05 2024
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Source: Yahoo Finance
Infineon Adjusts Revenue Outlook: Infineon has revised its full-year revenue forecast to approximately 15 billion euros after reporting third-quarter revenues of 3.702 billion euros, which fell short of expectations and marked a 9% decline year-on-year.
Market Challenges Persist: The company is facing sluggish demand and prolonged weak economic momentum, leading to high inventory levels; however, it maintains its profitability outlook and plans to implement a cost savings program starting in fiscal year 2025.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
