Infineon raises 2023 outlook on automotive and data center strength

Infineon Technologies, a provider of chipset for automobiles and data centers, said it is now expecting that its 2023 sales will be significantly above the €15.5 billion ($16.8 billion) forecast previously.
Infineon chipsetGermany-based Infineon in its preliminary earnings report said there would be a corresponding positive impact on margins, without specifying. Infineon will officially release its financial result on May 4.

Infineon expects revenue will be above €4 billion in the second quarter of the 2023 fiscal year against its previous target of around €3.9 billion.

With the increase in revenues, positive price and mix effects and energy costs developing better than anticipated, the margin is expected to reach a high-twenties percentage compared to the previous target of around 25 percent.