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Synopsys | 8-K: Current report

SEC announcement ·  Feb 21 16:43
Summary by Moomoo AI
On February 21, 2024, Synopsys, Inc., a leader in silicon to systems design solutions, announced its financial results for the first fiscal quarter ended January 31, 2024. The company reported record quarterly revenue of $1.649 billion, a 21% increase year over year, and GAAP earnings per diluted share of $2.89. Non-GAAP earnings per diluted share were $3.56, exceeding the high end of guidance. The favorable results include the impact of an additional week in the fiscal year 2024 compared to the previous year. Synopsys' President and CEO, Sassine Ghazi, attributed the strong performance to robust execution across the company and increased customer investments driven by AI advancements. CFO Shelagh Glaser highlighted the record revenue and non-GAAP earnings, reaffirming the full-year 2024 targets for revenue and non-GAAP...Show More
On February 21, 2024, Synopsys, Inc., a leader in silicon to systems design solutions, announced its financial results for the first fiscal quarter ended January 31, 2024. The company reported record quarterly revenue of $1.649 billion, a 21% increase year over year, and GAAP earnings per diluted share of $2.89. Non-GAAP earnings per diluted share were $3.56, exceeding the high end of guidance. The favorable results include the impact of an additional week in the fiscal year 2024 compared to the previous year. Synopsys' President and CEO, Sassine Ghazi, attributed the strong performance to robust execution across the company and increased customer investments driven by AI advancements. CFO Shelagh Glaser highlighted the record revenue and non-GAAP earnings, reaffirming the full-year 2024 targets for revenue and non-GAAP operating margin while raising non-GAAP EPS guidance. The company's GAAP net income for the quarter was $449.1 million, compared to $271.5 million for the same period last year. Non-GAAP net income was $553.7 million, up from $406.7 million. Synopsys also provided financial targets for the second quarter and full fiscal year 2024, including expected revenue and non-GAAP EPS. The company will hold a conference call for financial analysts and investors to discuss the results.

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