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Infineon Technologies lifts view as profit rises

Infineon Technologies AG said Tuesday that net profit and revenue for the second quarter of fiscal 2021 increased as demand for semiconductors continues to exceed supply.

The German chip maker said net profit for the three months ended March 31 rose to 203 million euros ($244.9 million) from EUR178 million a year earlier.

Revenue for the quarter climbed to EUR2.70 billion from EUR1.99 billion.

The company's segment result--a closely watched metric comparable to adjusted earnings before interest and taxes--rose to EUR470 million from EUR274 million, with its segment result margin, or adjusted EBIT margin, increasing to 17.4% from 13.8%.

Infineon in February had guided for second-quarter revenue of between EUR2.5 billion and EUR2.8 billion, with adjusted EBIT margin at around 16.5% at the mid-point.

"The semiconductor market is booming; electronics that help accelerate the energy transition and make work and home life easier remain in high demand," Chief Executive Reinhard Ploss said.

The company said it expects revenue for the third quarter of fiscal 2021 at between EUR2.6 billion and EUR2.9 billion, with adjusted EBIT margin at around 18% at the mid-point.

Infineon also raised its guidance for the fiscal year, expecting revenue at around EUR11 billion, plus or minus 3%, and an adjusted EBIT margin of about 18%.

It previously expected revenue of around EUR10.8 billion, plus or minus 5%, and an adjusted EBIT margin at about 17.5% at the mid-point.

Write to Mauro Orru at [email protected]; @MauroOrru94

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