SAN FRANCISCO (AP) — Xilinx Inc. said Wednesday that its net income fell 26 percent and revenue fell 10 percent as demand for its programmable chips in the telecommunications and industrial weakened in the latest quarter.
The company’s profit topped Wall Street forecasts. Revenue fell short.
The San Jose-based company, whose fiscal second quarter ended Oct. 1, said after the market closed that its net income was $126.3 million, or 47 cents per share, versus $170.9 million, or 65 cents per share, a year ago. Analysts expected 44 cents per share, according to FactSet.
Revenue was $555.2 million, down from the year-ago $619.7 million. Analysts expected $565.1 million, according to FactSet.
“Sales growth during the September quarter was impacted by weaker-than-expected business conditions particularly in the communications and industrial and other categories,” Moshe Gavrielov, Xilinx’s CEO, said in a statement.
For the December quarter, Xilinx expects revenue to decline 3 percent to 8 percent from the recently concluded quarter, which translates to a range of $510.8 million to $538.6 million. Analysts expected $570.8 million.
Shares rose 20 cents, or 0.7 percent, to $29.80 in extended trading following the release of the earnings report.