Synopsys Inc

Latest Results (20.08.2024):

Revenue Growth

Synopsys Inc. reported revenue of $1.455 billion for the second quarter of fiscal year 2024, marking a significant increase from the $1.263 billion reported in the same quarter of the previous year. This represents a year-over-year growth of approximately 15%, positioning the company at the high end of its guidance range.

GAAP Earnings

For the second quarter of fiscal year 2024, Synopsys Inc. achieved GAAP net income of $299.1 million, or $1.92 per diluted share. This is an improvement compared to the $275.6 million, or $1.78 per diluted share, reported in the second quarter of fiscal year 2023.

Non-GAAP Earnings

On a non-GAAP basis, Synopsys Inc. reported net income of $466.9 million, or $3.00 per diluted share, for the second quarter of fiscal year 2024. This is a notable increase from the non-GAAP net income of $368.3 million, or $2.38 per diluted share, reported in the same quarter of the previous year.

Financial Targets

Synopsys Inc. has raised its full-year targets for revenue and non-GAAP EPS based on strong execution and continued business momentum. For the third quarter of fiscal year 2024, the company expects revenue to be in the range of $1.505 billion to $1.535 billion, and for the full fiscal year, revenue is projected to be between $6.090 billion and $6.150 billion.

Operational Highlights

Synopsys Inc. continues to experience strong operational execution and business momentum, with customers investing in its solutions to maximize R&D and drive future innovations. The company also announced the planned acquisition of Ansys, which is expected to further enhance its mission of providing essential silicon-to-systems design solutions.