Synopsys Quarterly Earnings, Revenue Beat Wall Street Estimates

1 month ago 9
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Synopsys (SNPS) reported quarterly results precocious Wednesday that bushed estimates connected the apical and bottommost lines. SNPS banal climbed.

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The institution reported adjusted net of $2.10 a stock connected gross of $1.25 billion. Analysts expected Synopsys to study net of $1.99 a stock connected gross of $1.2 billion. The results were for the company's fiscal 3rd quarter.

SNPS banal roseate 2.6% to 391 during after-hours trading connected the stock marketplace today.

Synopsys has a 98 Composite Rating and holds the No. 2 fertile among its peers successful the Computer Software-Design manufacture group. Cadence Design Systems (CDNS) is the No. 1-ranked banal wrong the group.

The institution provides physics plan automation bundle companies usage for processing physics products and bundle applications.

SNPS Stock: 20% Revenue Growth

"Synopsys continues to execute precise well," Chief Executive Aart de Geus said successful prepared remarks with the Synopsys earnings release.

"We expect to transverse the $5 cardinal gross people successful FY '22, with implicit 20% gross growth, beardown borderline enlargement and EPS growth, and much than $1.6 cardinal successful operating currency flow," helium said. "Technology spot crossed the board, including aggregate game-changing innovations, drove outstanding technical, competitive, and concern results."

SNPS banal is adjacent a bargain point.

Please travel Brian Deagon connected Twitter at @IBD_BDeagon for much connected tech stocks, investigation and fiscal markets.

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