Synopsys Inc.
Synopsys Reports Strong First Quarter FY2024 Financial Results
Summary
Synopsys, Inc. reported record quarterly revenue of $1.649 billion, marking a 21% increase year over year for its first fiscal quarter of 2024. The company achieved GAAP earnings per diluted share of $2.89 and non-GAAP earnings per diluted share of $3.56, exceeding the high end of its guidance. Synopsys also provided financial targets for the second quarter and full fiscal year 2024, reaffirming its full-year targets for revenue and non-GAAP operating margin while raising its non-GAAP EPS guidance. The detailed financial performance and segment results were provided in the accompanying press release.
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About Synopsys Inc.
Synopsys Inc. is a leading provider of electronic design automation software, offering comprehensive solutions essential for designing and testing integrated circuits and electronic systems. Their software facilitates complex chip design processes, catering to a wide spectrum of industries, including semiconductor, automotive, and consumer electronics. One of Synopsys's key offerings is its advanced verification platform, which enhances the reliability and performance of electronic products. The company also plays a pivotal role in advancing chip design technology through its robust intellectual property portfolio, offering Silicon-proven IP that accelerates time-to-market for semiconductor companies. Headquartered in Mountain View, California, Synopsys is integral to the semiconductor design and verification cycle, supporting innovation in various tech sectors. Its tools are indispensable in conducing the unyielding complexity and shrinking design cycles synonymous with modern electronics, underscoring its market significance.
Official SEC Documents
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