Infineon Q2 operating profit beats expectations
FRANKFURT May 2 (Reuters) - German chipmaker Infineon on Thursday reported a better-than-expected second-quarter operating profit as results at its automotive unit improved.
Fiscal second-quarter operating profit, excluding special items, fell 53 percent from last year to 68 million euros ($90 million), beating the average expectation of 51.3 million euros in a Reuters poll.
Infineon said it expected its 2013 revenue and operating margin to come in at the high end of a previous given guidance.
Infineon previously said its expected 2013 revenue to drop 5-9 percent, while its core operating profit margin would reach between 5-9 percent. ($1 = 0.7580 euros) (Reporting by Harro ten Wolde; Editing by Christoph Steitz)
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