Synopsys (SNPS) Tops Q2 EPS by 18c; Raises Outlook

Synopsys (NASDAQ: SNPS) reported Q2 EPS of $1.70, $0.18 better than the analyst estimate of $1.52. Revenue for the quarter came in at $1.02 billion versus the consensus estimate of $988.7 million.

"Synopsys continues to execute very well. We delivered outstanding second quarter results, exceeding all of our key guidance metrics, and business was robust across all product groups and geographies. Market demand is strong, and we see a new wave of growth on the horizon, driven by an increasing need for highly complex, connected, specialized, and secure chips and systems," said Aart de Geus, chairman and co-CEO of Synopsys. "Recent transformative technology innovations position us particularly well to enable this new era. And combined with our multi-year focus on accelerating growth and expanding non-GAAP operating margin, we continue to manage the business to drive significant long-term shareholder value. Our excellent year-to-date results, coupled with increased confidence in our business, lead us to raise our fiscal 2021 revenue, non-GAAP earnings and operating margin, and operating cash flow targets."

GUIDANCE:

Synopsys sees Q3 2021 EPS of $1.75-$1.80, versus the consensus of $1.58. Synopsys sees Q3 2021 revenue of $1.03-1.06 billion, versus the consensus of $1.01 billion.

Synopsys sees FY2021 EPS of $6.38-$6.45, versus the consensus of $6.28. Synopsys sees FY2021 revenue of $4.035-4.085 billion, versus the consensus of $4.03 billion.

For earnings history and earnings-related data on Synopsys (SNPS) click here.

You May Also Be Interested In

• Rexford Industrial Realty (REXR) Reports In-Line Q1 EPS, provides guidance
• Equifax (EFX) Tops Q1 EPS by 6c, Misses on Revenue; Offers Guidance
• First Bancorp (FNLC) Reports Q1 EPS of $0.54