Synopsys Q1 Earnings: EPS Beat, In-Line Revenue, Strong Guidance And More
Portfolio Pulse from Erica Kollmann
Synopsys, Inc. (NASDAQ:SNPS) reported Q1 earnings of $3.56 per share, surpassing the consensus estimate of $3.43. Quarterly sales were $1.65 billion, aligning with expectations and marking a 21.16% increase from the previous year. The company's strong performance is attributed to AI-driven customer investments. Synopsys provided an optimistic outlook for Q2 and the full year, expecting earnings and revenue above analyst estimates. Shares rose 3.76% in after-hours trading.
February 21, 2024 | 10:15 pm
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Synopsys reported a strong Q1 with earnings and sales exceeding expectations, and provided an optimistic outlook for Q2 and the full year. Shares increased 3.76% after-hours.
Synopsys' Q1 earnings beat and positive future guidance indicate strong financial health and growth prospects, likely leading to increased investor confidence and a positive short-term impact on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100