Synopsys (SNPS) Gains 5% as Q1 Earnings Surpass Estimates

Synopsys (SNPS) shares gained 4.7% during Wednesday’s extended trading session after the company reported better-than-expected first-quarter fiscal 2024 results. The company’s first-quarter non-GAAP earnings per share (EPS) of $3.56 beat the Zacks Consensus Estimate of $3.43. The bottom line improved 35.9% year over year, primarily driven by higher revenues and better cost management.Revenues jumped 21% year over year to $1.65 billion, driven by growth across its business segments. The top line was in line ...