Investing.com - Infineon reported on Wednesday third quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Infineon announced earnings per share of €0.49 on revenue of €3.62B. Analysts polled by Investing.com anticipated EPS of €0.4367 on revenue of €3.46B.
Infineon shares are down 33% from the beginning of the year and are trading at €27.090 , down-from-52-week-high.They are under-performing the DAX which is down 15.12% from the start of the year.
Infineon shares gained 2.38% in intra-day trade the report.
Infineon follows other major Information Technology sector earnings this month
Infineon's report follows an earnings missed by SAP on July 21, who reported EPS of €0.96 on revenue of €7.52B, compared to forecasts EPS of €1.06 on revenue of €7.33B.
Nemetschek AG had beat expectations on Friday with second quarter EPS of €0.4 on revenue of €203.85M, compared to forecast for EPS of €0.3542 on revenue of €196.17M.
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