Synopsys Reports Steep Growth in Q2 Revenue and Profit

Thursday, 23 May 2024, 12:46

Synopsys, a key player in electronic design automation, posted robust financial results for the second quarter of 2024. The company recorded a notable 15% increase in total revenue, reaching $1.46 billion. Additionally, adjusted profit surged by 26% to $3.00 per share, signaling a solid performance in both top and bottom-line metrics.

https://store.livarava.com/a78b127d-1902-11ef-a3d8-9d5fa15a64d8.jpg — Synopsys Reports Steep Growth in Q2 Revenue and Profit

Synopsys Q2 Earnings Highlights:

Total revenue surged 15% year-over-year to $1.46 billion in the April quarter.

Net income rose by 7% to $292.1 million or $1.88 per share, showing steady growth.

Adjusted earnings climbed 26% to $3.00 per share in Q2, reflecting operational efficiency.

For the third quarter of 2024, Synopsys projects revenue between $1.51 billion and $1.54 billion.

Full-year revenue outlook stands at $6.09 billion to $6.15 billion, indicating a strong year ahead.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

Synopsys Q2 Earnings Highlights:

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