Infineon raises full-year guidance

·1-min read
A general view of Infineon Technologies, before a ceremony for Infineon's Smart Power Fab, in Dresden

BERLIN (Reuters) -German chipmaker Infineon raised its full-year guidance on Thursday, citing strong demand from the electromobility, renewable energy generation and energy infrastructure sectors.

"Although an improvement in consumer goods markets such as smartphones, PCs and home appliances is not yet visible, we are nevertheless very confident overall about Infineon's future business performance," Chief Executive Jochen Hanebeck said.

Infineon now sees full-year revenues of 16.2 billion euros ($17.96 billion)- plus or minus 300 million - compared with its previous forecast for 15.5 billion and with analyst consensus for 16.1 billion.

The group, whose chips are used in cars and data centres, had in February already lifted its full-year forecast on strong demand from carmakers, which are restocking inventories following a global chip glut, leading to higher prices.

Shares in Infineon rose 1% in early Frankfurt trade.

($1 = 0.9021 euros)

(Reporting by Maria Sheahan, editing by Kirsti Knolle)