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IFX - Infineon Technologies AG News Story

€32.5 1.1  3.6%

Last Trade - 4:35pm

Sector
Technology
Size
Large Cap
Market Cap £35.46bn
Enterprise Value £38.70bn
Revenue £8.68bn
Position in Universe 37th / 1051

Infineon slides to Q3 net loss as it consolidates Cypress

Tue 4th August, 2020 6:51am
BERLIN, Aug 4 (Reuters) - German chipmaker Infineon
 IFXGn.DE  on Tuesday posted a net loss as it reported fiscal
third-quarter results that were skewed by the closing in
mid-quarter of its $10 billion takeover of U.S. peer Cypress
Technologies.
    The supplier of automotive, power management and security
chips reported a net loss of 128 million euros ($151 million),
down from a profit of 178 million euros in the prior quarter and
below analyst expectations it would just break even.
 ($1 = 0.8501 euros)

 (Reporting by Douglas Busvine
Editing by Michelle Martin)
 ((douglas.busvine@tr.com; +49 30 220 133 562; Reuters
Messaging: douglas.busvine.thomsonreuters.com@reuters.net))
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