German semiconductor company Infineon Technologies AG (IFNNY) reported that its first quarter profit climbed to 457 million euros or 0.35 euros per share from 256 million euros or 0.19 euros per share in the same quarter last year.
Adjusted earnings per share for the quarter grew to 0.41 euros from 0.28 euros in the prior year.
Quarterly revenue was 3.16 billion euros, up 20 percent year-on-year.
Infineon expects revenue to be around 3.2 billion euros in the second quarter of the 2022 fiscal year.
Looking ahead for fiscal year 2022, the company now projects revenue to be 13.0 billion euros, plus or minus 500 million euros. The company said in November that it had expected revenue of 12.7 billion euros, plus or minus 500 million euros.
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