Xilinx Trading Higher on Upbeat Earnings and Guidance

Xilinx

is trading higher pre-market following the upbeat earnings and guidance announcement yesterday. The company reported Q3 EPS of $0.41 vs $0.37 estimate and revenues of $511.10 million vs $500.38 million estimate. Xilinx also guided Q4 revenue $521.30-541.80 million vs $505.70 million estimate. CEO Moshe Gavrieloc commented: "We experienced strong growth in our Virtex®-6 and Spartan®-6 product families and achieved significant milestones in our 28-nm rollout, in spite of challenging industry conditions. During the quarter, we commenced shipments of the PLD industry's first Stacked Silicon Interconnect product as well as the industry's first embedded systems platform, the Zynq-7000 product family." The shares of Xilinx are currently trading at $36.90, up 1.60 or 4.53% pre-market.