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FRANKFURT (Reuters) - German chipmaker Infineon slightly revised up its full-year revenue outlook on Tuesday due to expected currency effects after a fall in fiscal first-quarter revenue was not as bad as expected.
Infineon said it now expects revenue for the fiscal year until end-September 2025 to be flat to slightly up compared with the prior year, after previously saying it was expected to decline slightly, based on a lower exchange rate of the euro to the dollar.
"Infineon has held up well in a weak market environment, closing its first quarter slightly ahead of expectations," said Infineon CEO Jochen Hanebeck in a statement.
The Munich-based manufacturer reported first-quarter revenue had fallen by 8% to 3.4 billion euros ($3.5 billion), versus a company-provided analyst forecast for revenue to come in at 3.2 billion.
The segment result margin - management's preferred measure of operating profitability - also came as a positive surprise at 16.7%, beating the forecast for 15%.
($1 = 0.9710 euros)
(Reporting by Hakan Ersen; Writing by Miranda Murray; Editing by Ludwig Burger)