Infineon posts robust Q1
Market outside automotive remains weak
Infineon has posted a robust Q1 2024 with revenue of €3.702 billion.
"In the prevailing difficult macroeconomic climate, Infineon is proving robust," said Jochen Hanebeck, CEO of Infineon. "In consumer, communication, computing and IoT applications, we are not anticipating a noticeable recovery in demand until the second half of the calendar year.
"Our expectations for the automotive sector remain virtually unchanged from November, despite a slowdown in demand in electromobility outside China.
"As a company, we are consistently adapting to this situation, so that we meet our financial targets for the current fiscal year."
Outlook for Q2 2024 is a revenue of around €3.6 billion expected. Outlook for the full year of 2024 is around €16 billion plus or minus €500 million.