Synopsys Shares Up 4% Following Q2 Beat, Upbeat Guidance

Synopsys (NASDAQ: SNPS) shares were trading more than 4% higher after-hours following Q2 results, with EPS of $2.50 coming in better than the consensus estimate of $2.37. Revenue was $1.28 billion, compared to the consensus estimate of $1.26 billion.

The company expects Q3 non-GAAP EPS in the range of $2.01- $2.06 and revenue in the range of $1.21 billion – 1.24 billion. This is better than the consensus of $1.61 and $1.14 billion, respectively.

For the full 2022-year, the company expects EPS in the range of $8.63 - $8.70 and revenue in the range of $5 billion – $5.05 billion. This compares favorably to the consensus of $7.90 and $4.81 billion, respectively.

Shares Synopsys were down 26% year-to-date going into the results.

By Davit Kirakosyan

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