Infineon, a leading microchip supplier in the automotive industry, reported Monday a 22% increase in second-quarter revenue and raised its full-year vision as it benefits from a global shortage of semiconductors. The Munich-based company has increased its revenue for 2022 for the second time by 500 million euros ($ 525.20 million) to about 13.5 billion euros, including a consolidation or deduction of 500 million euros. It also forecasts a third quarter revenue of 3.4 billion euros, ahead of expectations of 3.26 billion euros, according to IBES data from Refinitiv.
“Global uncertainty, particularly the war in Ukraine and the continuation of the corona¬virus epidemic, is putting pressure on the chains,” chief executive officer JochenHanebeck said in a statement.
“The demand for our products and solutions continues beyond the supply,” he said.
Infineon’s revenue grew to 3.30 billion euros in the second quarter, ahead of expectations of 3.21 billion euros.
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