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Xilinx stock rises after revenue beat, strong guidance
4:36 PM ET 1/23/19 | MarketWatch

Xilinx stock rises after revenue beat, strong guidance

Xilinx Inc. (XLNX) shares surged more than 7% in the extended session Wednesday after the chip maker logged better-than-expected revenue and issued guidance that was above Wall Street estimates.

The company reported fiscal third-quarter net income of $239 million, or 93 cents a share, compared with losses of $12 million, or 5 cents a share, in the year-ago period. Adjusted for changes in U.S. tax law, among other things, earnings were 92 cents a share, compared with 65 cents a share in the year-ago quarter. Revenue rose to $800 million from $746 million in the year-ago period. Analysts surveyed by FactSet had estimated earnings of 85 cents a share on revenue of $770 million.

For the fiscal fourth quarter, analysts model earnings of 82 cents a share on revenue of $775 million. Xilinx said it expects fiscal fourth-quarter revenue of $815 million to $835 million. Xilinx stock has gained 19% in the past year, with the S&P 500 index falling 7.3%.