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Xilinx tops Street 3Q forecasts

Xilinx beats 3Q earnings and revenue expectations

SAN JOSE, Calif. (AP) _ Xilinx Inc. (XLNX) on Wednesday reported fiscal third-quarter earnings of $141.8 million.

The San Jose, California-based company said it had net income of 52 cents per share.

The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.

The computer chipmaker posted revenue of $585.7 million in the period, which also beat Street forecasts. Nine analysts surveyed by Zacks expected $579.3 million.

For the current quarter ending in March, Xilinx said it expects revenue in the range of $590 million to $620 million. Analysts surveyed by Zacks had expected revenue of $610.3 million.

Xilinx shares have fallen slightly more than 1 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed nearly 3 percent. In the final minutes of trading on Wednesday, shares hit $59.56, an increase of 25 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on XLNX at https://www.zacks.com/ap/XLNX

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Keywords: Xilinx, Earnings Report