Berlin, May 4 (FN Bureau) German chipmaker Infineon announced on Tuesday that its revenues increased by 36 percent year-on-year and reached around 2.7 billion euros (3.2 billion U.S. dollars) in the second quarter (Q2) of the company’s fiscal year 2021. The growth in revenues was “driven by brisk demand,” particularly in the automotive segment, according to Infineon. Net income rose by 14 percent year-on-year to 203 million euros between January and March. “The semiconductor market is booming; electronics that help accelerate the energy transition and make work and home life easier remain in high demand. The push for digitalization continues unabated,” said Reinhard Ploss, chief executive officer (CEO) of Infineon.
The strong growth year-on-year was also attributable to the acquisition of U.S. competitor Cypress for around nine billion euros last spring, which made Infineon a “global top 10 semiconductor company.” China generated 37 percent of the company’s revenues, making it the biggest single market for Infineon, while the Europe, Middle East and Africa (EMEA) region generated 26 percent of total revenues in Q2, according to the company. China generated 37 percent of the company’s revenues, making it the biggest single market for Infineon, while the Europe, Middle East and Africa (EMEA) region generated 26 percent of total revenues in Q2, according to the company. Based on the company’s “good performance in the first two quarters of the current fiscal year, and continuously strong momentum of the semiconductor market,” Infineon slightly increased its guidance and is expecting revenues of around 11.0 billion euros for full year 2021. (1 euro = 1.20 U.S. dollars)