Xilinx, Inc. Beat the Street Again -- so Why Isn't the Stock Soaring?

Xilinx, Inc. Beat the Street Again -- so Why Isn't the Stock Soaring?

Reprogrammable microchip giant Xilinx (NASDAQ: XLNX) reported results last week, covering the first quarter of fiscal year 2018. The company beat Wall Street's earnings estimates for the reported period, but Xilinx's share price has been sliding 4% lower since the report. Why are investors giving Xilinx shares the cold shoulder?

Image source: Xilinx.

In the first quarter, Xilinx reported GAAP earnings of $0.63 per diluted share, up from $0.61 per share in the year-ago quarter. Net revenues increased by 7%, to land at $615 million. Analysts had been expecting earnings of $0.60 per share on sales of $616 million.

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Source: Fool.com