With three weeks left in the quarter, the chipmaker expects sales to be about $490, or up 18% sequentially over the prior quarter. Previous guidance called for an 8% sequential gain. Analysts were looking for sales of $455 million or a 10% sequential growth rate.
Xilinx says gross margins for the December quarter widened to 64%, which is above the 62% to 63% range the company originally anticipated.
The improved outlook for the programmable chip giant comes just five months after Xilinx warned of a sales shortfall in the June quarter. The news is likely to give chip peers like Altera (ALTR) and QuickLogic (QUIK) a slight boost.Xilinx shares were up 1% to $23.50 in pre-market trading Tuesday. --Reported by Scott Moritz in New York
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV