Synopsys (SNPS) reported $1.65 billion in revenue for the quarter ended January 2024, representing a year-over-year increase of 21.2%. EPS of $3.56 for the same period compares to $2.62 a year ago.The reported revenue represents a surprise of +0.23% over the Zacks Consensus Estimate of $1.65 billion. With the consensus EPS estimate being $3.43, the EPS surprise was +3.79%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine th ...

Synopsys (SNPS) came out with quarterly earnings of $3.56 per share, beating the Zacks Consensus Estimate of $3.43 per share. This compares to earnings of $2.62 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.79%. A quarter ago, it was expected that this maker of software used to test and develop chips would post earnings of $3.04 per share when it actually produced earnings of $3.17, delivering a surprise of 4.28%.Over the ...

Close Collaboration with EDA Flows and Broad IP Portfolio Enables Chipmakers to Boost Performance and Speed Time to Market Highlights: Synopsys digital and analog EDA flows are certified and optimized to meet power, performance, and area targets on the Intel 18A process Broad portfolio of high-quality Synopsys IP reduces integration risk and accelerates time to market, providing a competitive edge to designers adopting the Intel 18A process Synopsys 3DIC Compiler, a unified exploration-to-signoff platform, ...

Financial Performance - Record quarterly revenue of $1.649 billion, up approximately 21% year over year compared to $1.361 billion in Q1 FY 2023[2] - GAAP net income for Q1 FY 2024 was $449.1 million, or $2.89 per diluted share, compared to $271.5 million, or $1.75 per diluted share in Q1 FY 2023[5] - Non-GAAP net income for Q1 FY 2024 was $553.7 million, or $3.56 per diluted share, compared to $406.7 million, or $2.62 per diluted share in Q1 FY 2023[6] - Total revenue for the first quarter of fiscal year 2024 was $1,649.2 million, a 21.2% increase from $1,361.3 million in the same period of fiscal year 2023[36] - Net income attributed to Synopsys for the first quarter was $449.1 million, a 65.5% increase compared to $271.5 million in the prior year[36] Revenue Segmentation - Design Automation segment revenue was $985.3 million, representing 59.7% of total revenue, while Design IP segment revenue rose to $525.7 million, accounting for 31.9% of total revenue[46] - Time-based products revenue increased to $904.4 million, up 15.6% from $782.3 million year-over-year[36] Guidance and Targets - The company reaffirmed its full-year 2024 targets for revenue and non-GAAP operating margin, while raising non-GAAP EPS guidance[3] - Financial targets for Q2 FY 2024 include revenue range of $1.560 billion to $1.590 billion and non-GAAP EPS range of $3.09 to $3.14[12] - For the full fiscal year 2024, revenue targets are set between $6.570 billion and $6.630 billion, with non-GAAP EPS targets between $13.47 and $13.55[12] Operational Highlights - The company highlighted strong execution driven by AI investments from customers in silicon and systems[3] - Synopsys operates in three segments: Design Automation, Design IP, and Software Integrity, contributing to robust design activity among semiconductor and systems customers[7] Financial Metrics - The effective non-GAAP tax rate for Q1 FY 2024 was 15.0%[24] - Cash and cash equivalents decreased to $1,118.9 million from $1,438.9 million at the end of the previous quarter[39] - Total assets increased to $10,558.3 million, up from $10,333.1 million at the end of the previous quarter[39] - The company reported a gross margin of $1,320.1 million, reflecting a strong operational performance compared to $1,077.0 million in the same quarter last year[36] - GAAP total operating income for the three months ended January 31, 2024, was $359.6 million, up from $255.9 million in the same period of 2023, representing an increase of 40.5%[48] - Total adjusted segment operating income increased to $638.4 million in Q1 2024 from $479.2 million in Q1 2023, reflecting a growth of 33.3%[48] Expenses and Adjustments - Stock-based compensation expenses rose to $180.7 million in Q1 2024 from $134.2 million in Q1 2023, an increase of 34.5%[48] - Amortization of acquired intangible assets increased to $27.1 million in Q1 2024 compared to $25.4 million in Q1 2023, a rise of 6.7%[48] - Non-qualified deferred compensation plan expenses increased significantly to $40.1 million in Q1 2024 from $20.2 million in Q1 2023, marking a 98.0% increase[48] - Acquisition/divestiture related items accounted for $30.9 million in Q1 2024, up from $2.6 million in Q1 2023, indicating a substantial increase[48] Strategic Initiatives - The company plans to explore strategic alternatives for its Software Integrity segment amid ongoing macroeconomic uncertainties[33] - Synopsys is in the process of acquiring ANSYS, Inc., with expectations regarding financing and regulatory approvals still pending[33] Non-GAAP Measures - The company has adopted a non-GAAP tax rate of 15% for fiscal year 2024 to provide better consistency across interim reporting periods[61] - Synopsys has begun excluding gains (losses) on the sale of strategic investments from non-GAAP financial measures in Q1 2024[54] - Synopsys emphasizes that non-GAAP financial measures are intended to supplement GAAP measures and provide a clearer view of core business operations[53] Additional Notes - The first quarter included a favorable impact of one additional week compared to FY 2023[2] - The first quarter of fiscal year 2024 included one extra week compared to the first quarter of fiscal year 2023[51]

In its upcoming report, Synopsys (SNPS) is predicted by Wall Street analysts to post quarterly earnings of $3.43 per share, reflecting an increase of 30.9% compared to the same period last year. Revenues are forecasted to be $1.61 billion, representing a year-over-year increase of 18.6%.The consensus EPS estimate for the quarter has undergone a downward revision of 1.4% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial ...

Synopsys (SNPS) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended January 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on February 21. ...

Fool.com contributor Parkev Tatevosian evaluates the financial prospects for Synopsys (SNPS 0.81%) and determines if the stock is a buy for long-term investors. *Stock prices used were the afternoon prices of Feb. 7, 2024. The video was published on Feb. 9, 2024. ...

SUNNYVALE, Calif., Feb. 5, 2024 /PRNewswire/ -- Synopsys, Inc. (Nasdaq: SNPS) today announced that CRN®, a brand of The Channel Company, has named Tom Herrmann, Global Vice President of Channels & Alliances, to the prestigious 2024 CRN® Channel Chiefs list for the third consecutive year. CRN's annual Channel Chiefs list recognizes the IT vendor and distribution executives who are driving strategy and setting the channel agenda for their companies. Herrmann, an accomplished executive with more than 25 years ...

The two leading semiconductor design software and verification platforms --  Synopsys (SNPS -0.24%) and Cadence Design Systems (CDNS -0.29%) -- have been off to the races the last few years, especially as investors have caught wind of how important these companies are to the development of AI and other advanced computing technology.Synopsys and Cadence are up 100% and 115%, respectively, over the past three years alone. That run has culminated in Synopsys' recently announcement intension to acquire design a ...

Synopsys (SNPS) closed the most recent trading day at $540.46, moving -1.54% from the previous trading session. This change lagged the S&P 500's daily gain of 0.08%. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq added 0.36%.Prior to today's trading, shares of the maker of software used to test and develop chips had gained 5.51% over the past month. This has outpaced the Computer and Technology sector's gain of 4.29% and the S&P 500's gain of 2.4% in that time.Analysts and investors alike will b ...