Chip maker Xilinx has reported higher-than-expected quarterly results and forecast revenue for the current quarter ahead of Wall Street targets, and its shares rose 1.3 per cent.
The company said that net income in its fiscal second quarter ended September 26th fell to $64.04 million or 23 cents per share, from $81.06 million, or 29 cents per share, a year earlier.
That result exceeded the 22 cent per-share profit expected on average by analysts.
Revenue fell 14.2 per cent to $414.95 million from $483.54 million a year ago, but surpassed the $410.21 million expected by analysts.
Xilinx forecast third quarter sales up 6 per cent to 10 per cent sequentially, and said fourth quarter gross margins should be between 62 per cent and 63 per cent. Analysts are, on average, expecting a fiscal third-quarter revenue of $422.45 million and a gross margin of 62 per cent.
Shares of the San Jose, California-based company rose to $24.30 in after-hours trading after closing at $24 in regular-session trade on the Nasdaq.
Reuters