On May 22, Synopsys (SNPS.US) announced financial results for the second quarter of 2024.
The Zhitong Finance App learned that on May 22, chip design software manufacturer Synopsys (SNPS.US) announced financial results for the second quarter of 2024. According to the data, the company's second-quarter revenue was US$1,455 million, up 15% year on year. Non-GAAP diluted earnings per share were US$3.00, up about 26% year on year, falling short of analysts' agreed expectations.
By business, the company's automated design division (EDA) had Q2 revenue of US$1.08 billion and its IP design division had revenue of US$400 million. By region, the company accounts for the largest share of revenue in the North American market, reaching US$6.382 billion, accounting for 44% of total revenue.
Synopsys President and CEO Sassine Ghazi said the company plans to acquire Ansys Software, which has now been approved by Ansys shareholders and will further advance Synopsys' mission.
Looking ahead, Synopsys Chief Financial Officer Shelagh Glaser said Synopsys will raise its annual revenue and non-GAAP earnings per share targets. The company expects revenue for the third quarter of 2024 to be US$1,535 million, and the revenue for the 2024 fiscal year is expected to be US$60.90-6.150 million. Non-GAAP earnings per share for the third quarter are expected to be US$3.25-3.30, and US$12.90-12.98 for the full year of fiscal year 2024.