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Infineon Technologies profit misses consensus by 45.7% in fiscal Q1

Infineon Technologies AG said its normalized net income for the fiscal first quarter ended Dec. 31, 2016, came to 9 euro cents per share, compared with the S&P Capital IQ consensus estimate of 17 cents per share.

EPS climbed year over year from 9 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €104.4 million, a gain from €99.8 million in the prior-year period.

The normalized profit margin dropped to 6.3% from 6.4% in the year-earlier period.

Total revenue grew 5.7% on an annual basis to €1.65 billion from €1.56 billion, and total operating expenses rose 5.4% on an annual basis to €1.46 billion from €1.39 billion.

Reported net income rose 7.5% year over year to €169.9 million, or 15 cents per share, from €158.1 million, or 14 cents per share.