Semiconductor company Xilinx, Inc. (NASDAQ: XLNX) reported stronger than expected earnings and revenues for the fourth quarter of 2020. The stock closed Wednesday’s regular trading sharply higher, but declined during the extended session following the announcement.
The results show that the restrictions imposed on China-based tech firm Huawei, the largest customer of Xilinx, and the COVID-19 related disruptions did not affect the company’s performance much.
Earnings, on an adjusted basis, dropped to $0.78 per share from $0.94 per share last year but came in above the consensus forecast. Reported profit dropped to $162 million or $0.65 per share from $245 million or $0.95 per share in the fourth quarter of 2019.
The decline in profit reflects a 9% fall in revenues to $756 million. The top-line, meanwhile, exceeded the market’s projection.
[irp posts=”55456″]
Most Popular
What to look for when CVS Health (CVS) reports Q3 earnings
Healthcare company CVS Health Corporation (NYSE: CVS) is all set to report earnings next week, with Wall Street expecting a mixed outcome. The company has been facing challenges in certain
eBay (EBAY): A few factors that helped drive growth in Q3 2024
Shares of eBay Inc. (NASDAQ: EBAY) stayed green on Friday. The stock has gained 32% year-to-date. The ecommerce leader delivered revenue and earnings growth for the third quarter of 2024,
CVX Earnings: Chevron reports lower revenue and profit for Q3 2024
Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to
