Synopsys (SNPS) Q2 Earnings and Revenues Miss Estimates

Synopsys (SNPS) missed both revenue and earnings estimates in the second quarter of 2024. The company's second-quarter non-GAAP earnings per share (EPS) of $3 marginally lagged the Zacks Consensus Estimate of $3.03. However, the bottom line improved 26% year over year, primarily driven by higher revenues and better cost management. Revenues jumped 15% year over year to $1.45 billion but missed the Zacks Consensus Estimate of $1.51 billion. The top line was driven by growth across multiple business segments. ...