- The company reported a net loss of $117.6 million (€107 million) during the second quarter of 2023, up from $154.9 million (€141 million) in the previous quarter.
- The chipmaker said that the loss was primarily driven by expenses related to various business activities, administration, and research and development.
German chipmaker Infineon raised its full-year guidance from $17.1 billion (€15.5 billion, plus or minus €500 million) to $17.87 billion (€16.2 billion, plus or minus €300 million), despite reporting a net loss in the second quarter.
The company experienced a net loss of $117.6 million (€107 million) during the second quarter of 2023. This is an improvement compared to the prior quarter, where the net loss was $154.9 million (€141 million).
The loss was primarily driven by expenses related to various business activities, such as the cost of goods sold (€81 million), selling, general, and administrative expenses (€54 million), and research and development expenses (€8 million).
The company also earned $39.57 million (€36 million) in other operating income during the quarter, which includes a gain from the sale of the HiRel DC-DC converter business to Micross Components, Inc. in February 2023.
The chipmaker reported strong demand from the electric mobility, energy infrastructure and renewable energy generation sectors. Group revenue increased by 4% on a quarterly basis to $45.47 million (€4,119 million) from $43.6 million (€3,951 million), led by significant improvements across the automotive and green industrial power segments. The connected secure systems segment saw a slight increase in revenue, whereas the power & sensor systems segment experienced a significant decline.
Operating profit improved in the second quarter of the 2023 fiscal year to $1.25 billion (€1,073 million), up from $1.13 billion (€966 million) in the previous quarter.
Infineon expects to generate a revenue of around $4.39 billion (€4 billion) in the third quarter of the 2023 fiscal year.
Infineon Technologies is a German semiconductor company that designs, develops, manufactures, and markets a wide range of semiconductor solutions for various applications, such as automotive, industrial, power management, and security systems. The company’s primary focus is on creating semiconductor solutions that enable secure, energy-efficient, and sustainable technologies.
