RPT-Infineon Q1 oper profit slightly ahead of expectations
(Repeats to different USN)
FRANKFURT Jan 31 (Reuters) - German chipmaker Infineon on Thursday reported a slightly better-than-expected first-quarter operating profit as cost savings are starting to show effect.
Fiscal first-quarter operating profit, excluding special items, fell 69 percent from last year to 44 million euros ($59.71 million), beating the average expectation of 42 million euros in a Reuters poll.
Infineon said it still expected 2013 revenue to drop 5-9 percent, while its core operating profit margin would reach between 5-9 percent. ($1 = 0.7370 euros) (Reporting by Harro ten Wolde)
- Target holiday cyber breach hits 40 million payment cards
- UPDATE 3-Saab wins Brazil jet deal after NSA spying sours Boeing bid
- Zuckerberg to sell Facebook shares worth about $2.3 billion
- Special Report: Why Ukraine spurned the EU and embraced Russia
- Facebook, Zuckerberg, banks must face IPO lawsuit: judge