Thursday, July 30, 2020

Xilinx sees strength in data center product and some order acceleration

Xilinx reported revenues of $727 million for the first quarter of its fiscal year 2021,  exceeding initial guidance and in-line with revised guidance. GAAP net income for the quarter was $94 million, or $0.38 per diluted share. Non-GAAP net income was $160 million, or $0.65 per diluted share.

The company noted record Data Center Group (DCG) revenue, with 10% sequential and 104% annual growth. Wireless Group (WWG) revenue increased 27% sequentially.

“Our fiscal Q1 revenue was well above the initial guidance despite ongoing business challenges from COVID-19 and global trade issues,” said Xilinx president and CEO Victor Peng. “Results were driven by strength in the Data Center Group (DCG), Wired and Wireless Group (WWG), and the Industrials market, offsetting expected headwinds in consumer-oriented end markets, including Automotive and Broadcast. The outperformance was due to a combination of strength in multiple end markets, as well as some order acceleration driven by recent additional U.S. government trade restrictions on sales of certain Xilinx products to some customers based, or with operations, in China.”