Synopsys Inc. (NASDAQ:SNPS) shares slipped despite posting strong third-quarter results after Wednesday’s closing bell. Here’s a look at the key figures from the quarter.
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Synopsys Q3 Details
Synopsys reported quarterly earnings of $3.91 per share, which beat the analyst consensus estimate of $3.67 by 6.54%, according to Benzinga Pro data.
Quarterly revenue of $2.48 billion beat the Street estimate of $2.44 billion and was up from $1.74 billion in the same period last year.
“AI is driving unprecedented complexity and increasing demand for the silicon IP and engineering solutions necessary to deliver next-generation AI compute, infrastructure and physical AI systems,” said Sassine Ghazi, president and CEO of Synopsys.
“One year after the transformational acquisition of Ansys, we are executing with focus, extending our leadership and gaining momentum,” Ghazi added.
Looking Ahead: Synopsys raised its full-year total revenue outlook to $9.715 billion at the midpoint and full-year non-GAAP EPS guidance to $15.07 at the midpoint on continued AI-driven demand strength.
SNPS Stock Price Activity: According to data from Benzinga Pro, Synopsys stock was down 5.63% to $386.91 in Wednesday’s extended trading.
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