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Xilinx Earnings, Revenue Beat in Q4

imageStock Markets6 hours ago (Apr 22, 2020 04:23PM ET)

(C) Reuters. Xilinx Earnings, Revenue Beat in Q4

Investing.com – Chipmaker Xilinx reported on Wednesday fourth-quarter earnings that beat analysts’ forecasts and revenue that topped expectations despite disruptions caused by U.S. restrictions on Huawei and delays to the ramp-up of demand for 5G due to the Covid-19 pandemic.

Xilinx (NASDAQ:XLNX) shares lost 2.10% in after-hours trade following the report.

The company reported earnings of 0.78 cents on revenue of $756.2M, above estimates for 0.65 cents on revenue of $751.68M

Analysts are expecting EPS of $0.69 and revenue of $738.25M in the upcoming quarter. Xilinx shares are down 7% from the beginning of the year , still down 36.02% from its 52 week high of $141.60 set on April 24, 2019. They are outperforming the S&P 500 which is down 13.75% year to date. Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar

“Despite our fiscal 2020 being uniquely challenging, particularly related to the US trade-related restrictions with Huawei as well as some COVID-19 impact during our Q4, we were able to deliver another record year with revenue of $3.16 billion, a 3% increase over fiscal 2019,” said Xilinx president and CEO Victor Peng. “The strength and diversity of our business were reflected in the results of our fiscal fourth quarter with strong sequential growth in both revenue and profitability.”

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar

Xilinx Earnings, Revenue Beat in Q4

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