Synopsys Shares Up 2% on Q3 Beat, Provides Outlook
2022.08.18 00:38
Synopsys Shares Up 2% on Q3 Beat, Provides Outlook
By Davit Kirakosyan
Synopsys (NASDAQ:SNPS) shares were trading more than 2% higher after-hours following the company’s reported Q3 results, with EPS of $2.10 coming in better than the consensus estimate of $1.99. Revenue was $1.25 billion (up 18% year-over-year), compared to the consensus estimate of $1.21 billion.
“Synopsys continues to execute very well. We delivered excellent fiscal third quarter results, with broad-based strength, and are increasing our outlook for the year. Technology strength across the board, including multiple game-changing innovations, drove outstanding technical, competitive, and business results,” said Aart de Geus, chairman and CEO of Synopsys.
The company expects Q4/22 revenue in the range of $1.263-1.293 billion, and non-GAAP EPS in the range of $1.80-$1.85.
For the full 2022-year, the company expects revenue in the range of $5.060-5.090 billion, and non-GAAP EPS in the range of $8.80-$8.85.
