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Synopsys | 8-K: Current report

SEC announcement ·  May 23 04:35
Summary by Futu AI
On May 22, 2024, Synopsys, Inc., a leader in silicon to systems design solutions, announced its financial results for the second fiscal quarter ended April 30, 2024. The company reported a quarterly revenue of $1.455 billion, a 15% increase year over year, and at the high end of their guidance. GAAP earnings per diluted share were $1.92, while non-GAAP earnings per diluted share reached $3.00, marking a 26% increase from the previous year and exceeding guidance. Synopsys also raised its full-year targets for revenue and non-GAAP EPS, citing strong execution and continued business momentum. The announcement came alongside news of Synopsys' planned acquisition of Ansys, which was approved by Ansys shareholders, aiming to enhance Synopsys' design solutions offerings. The company's Software Integrity business has been...Show More
On May 22, 2024, Synopsys, Inc., a leader in silicon to systems design solutions, announced its financial results for the second fiscal quarter ended April 30, 2024. The company reported a quarterly revenue of $1.455 billion, a 15% increase year over year, and at the high end of their guidance. GAAP earnings per diluted share were $1.92, while non-GAAP earnings per diluted share reached $3.00, marking a 26% increase from the previous year and exceeding guidance. Synopsys also raised its full-year targets for revenue and non-GAAP EPS, citing strong execution and continued business momentum. The announcement came alongside news of Synopsys' planned acquisition of Ansys, which was approved by Ansys shareholders, aiming to enhance Synopsys' design solutions offerings. The company's Software Integrity business has been presented as a discontinued operation in the consolidated financial statements, and all financial results and targets are presented on a continuing operations basis. The GAAP net income for the second quarter was $299.1 million, up from $275.6 million in the same quarter of the previous year. Non-GAAP net income for the quarter was $466.9 million, compared to $368.3 million for the second quarter of fiscal year 2023. Synopsys also provided financial targets for the third quarter and full fiscal year 2024, which include the impact of an extra week in the fiscal year.

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