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Infineon (IFXGn.DE), the leading supplier of microchips to the auto industry, reported on Monday a 22% rise in second-quarter revenue and lifted its full-year outlook as it benefits from a global shortage of semiconductors.

The Munich-based company raised its 2022 revenue for the second time by 500 million euros ($525.20 million) to around 13.5 billion euros, including a range of plus or minus 500 million euros.

It also forecast third-quarter revenue of 3.4 billion euros, ahead of expectations of 3.26 billion euros, according to IBES data from Refinitiv.

“Global uncertainties, in particular the war in Ukraine and the further course of the corona­virus pandemic, are placing stress on supply chains,” CEO Jochen Hanebeck said in a statement.

“Demand for our products and solutions continues to exceed supply significantly,” he said.

Infineon’s revenue grew to 3.30 billion euros in the second quarter, ahead of expectations of 3.21 billion euros.

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