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Infineon quarterly revenue beats, lifts 2022 outlook on chip demand

BERLIN/STOCKHOLM (Reuters) -Infineon, the leading supplier of microchips to the auto industry, on Wednesday reported a rise in third-quarter revenue and lifted its full-year outlook as it continues to benefit from a global shortage of semiconductors. The Munich-based company’s revenue grew to 3.62 billion euros in the third quarter, exceeding the 3.42 billion euros expected in a poll of 20 analysts by Vara Research. Infineon raised its 2022 revenue for the third time by 500 million euros ($509 million) to around 14 billion euros, forecasting fourth-quarter revenue of 3.9 billion euros, ahead of expectations of 3.65 billion euros.

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