Synopsys Earnings: Here’s Why Investors are Happy Now
Synopsys Inc. (NASDAQ:SNPS) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.23%.
Synopsys Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share were the same at $0.55 in the quarter as EPS of $0.55 in the year-earlier quarter.
Revenue: Rose 8.82% to $482.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Synopsys Inc. reported adjusted EPS income of $0.55 per share. By that measure, the company beat the mean analyst estimate of $0.54. It beat the average revenue estimate of $481.9 million.
Quoting Management: “Synopsys continues to demonstrate broad strength and innovation in technology and customer relationships, as well as excellent execution and financial results,” said Aart de Geus, chairman and co-CEO of Synopsys. “While our customers are dealing with yet another quarter of a relatively weak global economy, many have a sharp focus on new technology and continue to aggressively drive design activity. The result is high demand for advanced tools and IP, areas in which we continue to lead and have a track record of excellence.”
Key Stats (on next page)…