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Xilinx profit misses consensus by 27.9% in fiscal Q2

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Xilinx profit misses consensus by 27.9% in fiscal Q2

Xilinx, Inc. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 45 cents per share, compared with the S&P Capital IQ consensus estimate of 63 cents per share.

EPS increased 11.5% year over year from 41 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $116.9 million, a gain of 6.5% from $109.8 million in the second quarter ended Oct. 1, 2016.

The normalized profit margin dropped to 18.9% from 19.0% in the year-earlier period.

Total revenue rose 7.0% year over year to $619.5 million from $579.2 million, and total operating expenses grew 7.9% on an annual basis to $434.3 million from $402.4 million.

Reported net income rose year over year to $167.8 million, or 65 cents per share, from $164.9 million, or 61 cents per share.