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
MU Earnings: Micron’s Q4 profit declines but beats estimates
Micron Technology Inc. (NASDAQ: MU) Thursday said its fourth-quarter profit declined from last year, hurt by a sharp fall in revenues. Earnings, however, beat the market’s projection. On an adjusted
What are Philip Morris’ (PM) anticipations for the near term?
Shares of Philip Morris International Inc. (NYSE: PM) were down 1% on Thursday. The stock has dropped over 9% year-to-date. Although the tobacco industry has felt the pinch of inflation,
Key highlights from CarMax (KMX) Q2 2023 earnings results
CarMax, Inc. (NYSE:KMX) reported second quarter 2023 earnings results today. Net revenues rose 2% year-over-year to $8.1 billion. Net earnings were $125.9 million, or $0.79 per share, compared to $285.2 million,
