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ADVANCED MICRO DEVICES, INC.

(AMD)
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Advanced Micro Devices : Xilinx forecasts current-quarter revenue largely above estimates

10/21/2020 | 04:20pm EDT

Oct 21 (Reuters) - Xilinx Inc forecast current-quarter revenue largely above Wall Street estimates on Wednesday, bolstered by rising sales of its chips to data centers.

The company said it expects third-quarter revenue of $750 million to $800 million, compared to analysts' average estimate of $772.3 million, according to IBES data from Refinitiv.

Earlier this month, the Wall Street Journal reported that rival Advanced Micro Devices Inc is in talks to buy Xilinx in a deal that could be valued at more than $30 billion.

San Jose, California-based Xilinx makes programmable chips used in data centers to speed up tasks like artificial intelligence work and in 5G telecommunications base stations.

"Xilinx business continued to strengthen in fiscal Q2, buoyed by the economic recovery and increasing demand across our broad set of end markets," Chief Financial Officer Brice Hill said in a statement.

The company's net revenue fell to $767 million from $833 million in the second quarter, still topping estimates of $755.1 million. The revenue beat was powered by strength in the data center unit, where sales jumped 30% from last year.

Net income fell to $194 million, or 79 cents per share, in the quarter, from $227 million, or 89 cents per share, a year earlier. (Reporting by Munsif Vengattil and Stephen Nellis; Editing by Maju Samuel)


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ADVANCED MICRO DEVICES, INC. -0.31% 81.31 Delayed Quote.-11.34%
XILINX, INC. -0.23% 128.5 Delayed Quote.-9.36%
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Financials (USD)
Sales 2021 14 717 M - -
Net income 2021 2 355 M - -
Net cash 2021 4 133 M - -
P/E ratio 2021 43,7x
Yield 2021 -
Capitalization 98 793 M 98 793 M -
EV / Sales 2021 6,43x
EV / Sales 2022 5,44x
Nbr of Employees 12 600
Free-Float 99,0%
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Advanced Micro Devices, Inc. Technical Analysis Chart | AMD | US0079031078 | MarketScreener
Technical analysis trends ADVANCED MICRO DEVICES, INC.
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TrendsBullishBearishNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 42
Average target price 101,38 $
Last Close Price 81,31 $
Spread / Highest target 66,0%
Spread / Average Target 24,7%
Spread / Lowest Target -79,1%
EPS Revisions
Managers and Directors
NameTitle
Lisa T. Su President, CEO & Non-Independent Director
Devinder Kumar Chief Financial Officer, Treasurer & Executive VP
John Edward Caldwell Chairman
Mark D. Papermaster CTO, Executive VP-Technology & Engineering
Keivan Keshvari Senior Vice President-Global Operations
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