Infineon reports that sales for the 2nd quarter of its 2024 fiscal year (i.e. Jan-Feb-March) totaled 3,632 ME, down 12% on the same period a year earlier.

Infineon finally posted net income of 394 ME, down 52%, revealing adjusted EPS of 0.42 euro, down 39%.

' In the prevailing difficult market environment, Infineon achieved a solid second quarter', says Infineon CEO Jochen Hanebeck.

However, as many end markets remained 'weak due to economic conditions', Infineon says it is taking a cautious approach and lowering its forecasts.

Sales for 2024 are now expected to come in at 15.1 billion euros (plus or minus 400 ME), compared with 16 billion euros in the previous estimate, plus or minus 500 ME.

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