Synopsys Q1 2024 Adj EPS $3.56 Beats $3.43 Estimate, Sales $1.65B Inline
Portfolio Pulse from Benzinga Newsdesk
Synopsys (NASDAQ:SNPS) reported Q1 2024 adjusted EPS of $3.56, surpassing the consensus estimate of $3.43 by 3.79%. Quarterly sales reached $1.65 billion, in line with estimates, marking a 21.16% increase from $1.36 billion in the same period last year.
February 21, 2024 | 9:06 pm
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Synopsys reported a Q1 2024 adjusted EPS of $3.56, beating estimates by 3.79%, with sales of $1.65 billion, a 21.16% increase YOY.
Beating EPS estimates and reporting a significant year-over-year sales increase are strong positive indicators for Synopsys. This performance surpassing analyst expectations typically leads to positive investor sentiment and could result in a short-term uptick in SNPS stock price.
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