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Xilinx (XLNX) Stock Gains in After-Hours Trading on Earnings Beat

NEW YORK (TheStreet) -- Shares of Xilinx (XLNX - Get Report) were gaining 3.2% to $46.83 after-hours Wednesday after the programmable logic device supplier beat analysts' estimates for earnings in the second quarter of fiscal 2016.

Xilinx reported earnings of 48 cents a share for the fiscal second quarter, above analysts' estimates of 47 cents a share for the quarter. Revenue fell 12.7% year over year to $527.57 million for the quarter, below analysts' estimates of $529.58 million.

"The quarter was characterized by solid profitability and strong new product growth. Sales performed as expected with...