FRANKFURT Jan 30 German chipmaker Infineon
reported on Thursday a bigger-than-expected rise in
quarterly core operating profit thanks to increased demand from
its industrial customers.
Operating profit for its fiscal first quarter, excluding
special items, was 116 million euros ($158.28 million), beating
average analysts' expectations of 96 million in a Reuters poll.
The Neubiberg, southern Germany-based company said it still
expected revenue to rise by 7-11 percent to 4.11-4.27 billion
euros in its current year ending Sept. 30.
Infineon is riding the recovery wave in the global chip
sector, which is expected to grow almost 3 percent this year to
$329 billion and $366 billion in 2017, research firm IDC