Revenue growth helped Xilinx (XLNX) reap higher profit in the first quarter.
Earnings and Revenue
The company experienced stronger-than-expected EPS and revenues. The company reported EPS of 47 cents a share versus the 45 cents a share estimate and revenues of $5.83 billion versus the $575 million estimate. The company's reported EPS came in above the high estimate of 19 analysts of a profit of 46 cents.
The company's net income for the quarter rose 740.8% to $1.3 billion. Revenue climbed 846.9% from $615.5 million in the same period last year.
Company Fundamental Trends
After posting a profit last quarter, The company breaks a streak of at least four consecutive quarters of year-over-year profit drops. The company bounced back last quarter with a year over year revenue increase after three consecutive quarters of revenue declines.
History Against Expectations
The company has now topped analyst estimates for at least the last four quarters. It beat by 8 cents in the fourth quarter of the last fiscal year, 5 cents in the third quarter of the last fiscal year and 3 cents in the second quarter of the last fiscal year.
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.