Why Xilinx Stock Fell 10% This Morning
Shares of Xilinx (NASDAQ: XLNX) fell as much as 10.2% on Wednesday morning, following a mixed third-quarter report on Tuesday evening.
The maker of programmable logic devices saw third-quarter sales falling 10% year over year to $723 million, while adjusted earnings declined 26% to $0.68 per share. The Street consensus was calling for earnings near $0.59 per share on revenue in the neighborhood of $731 million. The company also set a low bar for fourth-quarter revenue, aiming for roughly $765 million, while the analyst consensus had pointed to approximately $825 million.
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Source Fool.com
