Xilinx, Inc. (NASDAQ: XLNX) vaulted in early trading Thursday, after the company posted upbeat Q1 earnings and issued strong outlook for the current quarter.
The San Jose-based company reported record revenues of $684 million for the first quarter of fiscal year 2019, up 7% from the prior quarter and up 14% from first quarter of the prior fiscal year. June quarter net income was $190 million, or a record $0.74 per diluted share.
Moreover, the company approved a cash dividend of 36 cents per outstanding share of common stock payable on August 28 to all stockholders of record at the close of business on August 8.
To quote CEO Victor Peng, "It's great to see our efforts to accelerate growth in our core markets pay off with a record revenue and earnings quarter. During the first quarter, we posted revenues of $684 million representing 14% year over year growth. Given the strength we see across our end markets, we are raising our revenue guidance for the full year to approximately 15% growth, compared to the prior year.
"We made excellent progress executing to our Data Center strategy with significant design wins with hyperscalers, training an additional 500 AWS F1 developers and completing multiple investments in our ecosystem. We also acquired DeePhi Tech, an Artificial Intelligence company with innovative Deep Neural Network technology for the cloud and the edge."
Xilinx develops highly flexible and adaptive processing platforms that enable rapid innovation across a variety of technologies – from the endpoint to the edge to the cloud.
Shares shot up $6.93, or 10.2%, to $74.90
