Synopsys Q1 Earnings: EPS Beat, In-Line Revenue, Strong Guidance And More

Synopsys, Inc. SNPS reported its first-quarter financial results after the bell Wednesday. Here's a look at the highlights. 

Synopsys reported quarterly earnings of $3.56 per share, which beat the analyst consensus estimate of $3.43 by 3.79%.

The company reported quarterly sales of $1.65 billion, in line with the analyst consensus, and a 21.16% increase over sales of $1.36 billion from the same period last year.

"The first quarter marked an excellent start to the year with strong execution across the company as AI continues to drive our customers' investments in silicon and systems that position them for future growth," said Sassine Ghazi, CEO of Synopsys.

"These results underscore the strength of our technology and our strategy. In the face of mounting design complexity, technology R&D teams are counting on Synopsys' broad portfolio of semiconductor IP and leading design solutions from silicon to systems. There is no one more capable than Synopsys of helping companies innovate for this era of pervasive intelligence," added Ghazi.

Outlook: Synopsys expects second-quarter adjusted earnings of $3.09 and $3.14 per share, versus the $3.01 estimate, and second-quarter revenue between $1.56 billion and $1.59 billion, versus the $1.55 billion estimate.

Synopsys sees full-year 2024 adjusted earnings in a range of $13.47 to $13.55 per share, versus the $13.42 estimate and full-year revenue of between $6.57 billion and $6.63 billion, versus the $6.62 billion estimate.

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SNPS Price Action: According to Benzinga Pro, Synopsys shares are trading up 3.76% after-hours at $564.00 at the time of publication.

Image: Reto Scheiwiller from Pixabay