Synopsys (NASDAQ: SNPS) reported Q2 EPS of $0.88, $0.02 better than the analyst estimate of $0.86. Revenue for the quarter came in at $680.1 million versus the consensus estimate of $672.4 million.

GUIDANCE:

Synopsys sees FY2017 EPS of $3.24-$3.29, versus the consensus of $3.25. Synopsys sees FY2017 revenue of $2.65-2.67 billion, versus the consensus of $2.6 billion.

Financial Targets

Synopsys also provided its financial targets for the third quarter and full fiscal year 2017, which do not include any impact of future acquisition-related activities or costs. These targets constitute forward-looking statements and are based on current expectations. For a discussion of factors that could cause actual results to differ materially from these targets, see \"Forward-Looking Statements\" below.

Third Quarter of Fiscal Year 2017 Targets:

• Revenue: $685 million - $700 million
• GAAP expenses: $574 million - $593 million
• Non-GAAP expenses: $517 million - $527 million
• Other income and expense: ($1) million - $1 million
• Normalized annual tax rate applied in non-GAAP net income calculations: 19 percent
• Fully diluted outstanding shares: 153 million - 156 million
• GAAP earnings per share: $0.69 - $0.78
• Non-GAAP earnings per share: $0.91 - $0.94

Full Fiscal Year 2017 Targets:

• Revenue: $2.650 billion - $2.670 billion
• Other income and expense: $2 million - $6 million
• Normalized annual tax rate applied in non-GAAP net income calculations: 19 percent
• Fully diluted outstanding shares: 153 million - 156 million
• GAAP earnings per share: $1.84 - $1.97
• Non-GAAP earnings per share: $3.24 - $3.29
• Cash flow from operations: $580 million - $600 million

Q2 2017 Financial Highlights

• Revenue: $680.1 million
• GAAP earnings per share: $0.34
• Non-GAAP earnings per share: $0.88

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