Shares of programmable chip maker Xilinx (XLNX) are up $2.69 or almost 8%, at $37.99 after the company this afternoon reported fiscal Q3 revenue and profit that beat estimates, and projected sales to rise faster than expected this quarter.
Revenue in the three months ended in December fell 10%, year over year, and 8% compared to the prior quarter, to $511.1 million, yielding EPS of 47 cents. Analysts had been projected $498.3 million and 37 cents.
For the current quarter, the company sees sales growth of 2% to 6%, which is stronger than the 2% growth analysts have been modeling (based on $508.1 million consensus.)
Gross margin is seen slipping slightly, to 64% to 65%, compared to las quarter’s 65.8%.
The company will pay its regular quarterly dividend of 19 cents on February 29th to shareholders of record as of February 8th, it said.
Xilinx will hold a conference call with analysts at 5 pm, Eastern time, and you can catch the Webcast here.
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