Infineon Meets Targets After Better-Than-Expected Revenue, Net Profit

Infineon Technologies met its fiscal 2023 targets and proposed a higher dividend after beating expectations for net profit and revenue in its fourth quarter.

The German chip company said on Wednesday that fourth-quarter net profit reached 753 million euros ($819.2 million) compared with EUR735 million in the fourth quarter of last year. Analysts had expected net profit of EUR674.8 million, according to FactSet.