NEUBIBERG (dpa-AFX) - Infineon Technologies AG (IFNNY), a German semiconductor maker, on Tuesday reported that its first-quarter profit fell 58 percent to 246 million euros from last year's 587 million euros.
Earnings per share from continuing operations were 0.18 euro, down 60 percent from last year's 0.45 euro.
Adjusted earnings per share from continuing operations were 0.33 euro, compared to 0.53 euro a year ago.
Revenue for the quarter declined 8 percent to 3.42 billion euros from prior year's 3.70 billion euros.
Looking ahead, for the second quarter, the company projects revenue of around 3.6 billion euros, and segment Result Margin to be in the mid-teens percentage range.
Further, for fiscal 2025, Infineon now expects revenue to be flat to slightly up from the prior year. The previous forecast was for a slight decline in revenue.
The adjusted gross margin should be around 40 percent and the Segment Result Margin in the mid-to-high-teens percentage range.
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