Synopsys (NASDAQ: SNPS) reported Q1 EPS of $1.08, $0.16 better than the analyst estimate of $0.92. Revenue for the quarter came in at $834.4 million versus the consensus estimate of $821.61 million.

"Our first quarter was a strong start to fiscal year 2020. We delivered financial results at or above our guidance targets and are reaffirming our outlook for the year," said Aart de Geus, chairman and co-CEO of Synopsys. "Even with caution around global markets, electronics companies continue to invest in critical chip and system designs, as well as substantially increasing amounts of sophisticated software. Synopsys is uniquely positioned to enable these designs from Silicon to Software. Our innovation engine is unrelenting, and this quarter we will be introducing a number of exciting new products and differentiating capabilities. We remain on-track towards our longer-term revenue and operating margin expansion targets."

GUIDANCE:

Synopsys sees Q2 2020 EPS of $0.96-$1.01, versus the consensus of $1.01. Synopsys sees Q2 2020 revenue of $820-850 million, versus the consensus of $843.76 million.

Synopsys sees FY2020 EPS of $5.18-$5.25, versus the consensus of $5.23. Synopsys sees FY2020 revenue of $3.6-3.65 billion, versus the consensus of $3.63 billion.

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