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Synopsys Shares Up 2% on Q3 Beat, Provides Outlook

Stock Markets Aug 17, 2022 16:58
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By Davit Kirakosyan

Synopsys (NASDAQ:SNPS) shares were trading more than 2% higher after-hours following the company’s reported Q3 results, with EPS of $2.10 coming in better than the consensus estimate of $1.99. Revenue was $1.25 billion (up 18% year-over-year), compared to the consensus estimate of $1.21 billion.

"Synopsys continues to execute very well. We delivered excellent fiscal third quarter results, with broad-based strength, and are increasing our outlook for the year. Technology strength across the board, including multiple game-changing innovations, drove outstanding technical, competitive, and business results,” said Aart de Geus, chairman and CEO of Synopsys.

The company expects Q4/22 revenue in the range of $1.263-1.293 billion, and non-GAAP EPS in the range of $1.80-$1.85.

For the full 2022-year, the company expects revenue in the range of $5.060-5.090 billion, and non-GAAP EPS in the range of $8.80-$8.85.

Synopsys Shares Up 2% on Q3 Beat, Provides Outlook
 

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