As increased sales to defense, aerospace and industrial clients resulted in Xilinx, Inc (XLNX.O) shares to be lifted up 5 percent in extended trading, the company has reported better-t=han-expected quarterly revenue and earnings.
The company stated that sales to defense, aerospace and industrial customers, these included companies and entities such as the U.S. Air Force, Ericsson and the European Organization for Nuclear Research, has climbed in the second quarter to 8 percent
The demand for chips from different sectors, not excluding network and automobile equipment, was on a downward trend across the globe, particularly Asia and Europe as reported by a number of US chip makers and yet the company’s strong outcome came after these reports.
Xilinx has manufactured semiconductors that can be programmed by clients to complete certain tasks have the highest sold turn out as it eliminated expensive processes just to create a custom chip.
In the quarter that ended on Sept. 27, the company’s net profit increased to 62 cents per share or $171.5 million from last year’s 49 cents per share or $141.5 million.
At closing of the trading day, the company reported that its revenue grew to around 1 percent to $604.3 million.