Why Xilinx (XLNX) Stock Is Plunging in After-Hours Trading Today

NEW YORK (TheStreet) -- Xilinx  (XLNX) plunged in after-hours trading on Tuesday after the chipmaker reported first-quarter earnings that came up well short of analysts' expectations and issued guidance below the consensus estimate.

The company reported earnings per share of 62 cents on revenue of $612.6 million. This edged the consensus EPS estimate of 61 cents but missed the revenue estimate of $631.55 million.

Xilinx expects revenue to be flat to down 4% in the second quarter compared to the first, which equates to a range of $588 million to $612.6 million, well below the consensus estimate of $644.48 million.

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The stock was down 8.62% to $44 at 4:40 p.m.

XLNX Chart XLNX data by YCharts

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