Categories Earnings, Technology

Xilinx (XLNX) Q3 2020 Earnings Snapshot

— Xilinx Inc. (NASDAQ: XLNX) reported third quarter 2020 adjusted earnings of $0.68 per share versus $0.59 per share expected.

— Revenue decreased by 10% to $723 million versus $730.6 million expected.

Xilinx (XLNX) Q3 2020 earnings infograph

— Xilinx expects to reduce its global workforce by approximately 7% through a targeted reduction in force and meaningfully slower hiring to replace attrition.

— Q4 revenues are expected to be in the range of $750 million to $780 million.

— Revenue in the fourth quarter is expected to grow on a sequential basis.

— The company expects greater than expected weakness in the wired and wireless business in Q4 due to a slowdown in both 5G and wired infrastructure deployments, in addition to ongoing global trade headwinds.

— Xilinix stock was down about 8% immediately after the earnings announcement.

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