Infineon has reported fiscal Q2 2016 results above consensus expectations and company guidance. Fiscal Q2 sales came in at EUR1.611bn up 3.5% sequentially (+8.6% yoy), with current operating margin at 13.7%, current operating result at EUR220m and EPS at EUR0.18. This was above consensus expectations with sales estimates at EUR1.604bn, current operating result at EUR202m (current operating margin of 12.6%) and adjusted EPS at EUR0.14. As a result, Q2 EPS was 29% above expectations. However, Infineon has lowered FY 2016 guidance and now expects revenue to rise 12% (+/-2%, compared with 13% before) and current operating margin in the range of 15-16% (at mid-point, compared to 16% before).
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