On August 21, 2024, Synopsys, Inc. reported its financial results for the third fiscal quarter ended July 31, 2024. The company announced a record quarterly revenue of $1.526 billion, which is approximately a 13% increase year over year. GAAP earnings per diluted share were $2.73, while non-GAAP earnings per diluted share were $3.43, marking an approximate 27% increase from the previous year and exceeding guidance. Synopsys expects a record full-year revenue with an anticipated growth of approximately 15%, driven by strong execution and business momentum. The company's president and CEO, Sassine Ghazi, highlighted the resilience of Synopsys' business and its critical role in technology innovation, particularly as companies leverage AI in the era of pervasive intelligence. CFO Shelagh Glaser noted the company's excellent performance in the...Show More

On August 21, 2024, Synopsys, Inc. reported its financial results for the third fiscal quarter ended July 31, 2024. The company announced a record quarterly revenue of $1.526 billion, which is approximately a 13% increase year over year. GAAP earnings per diluted share were $2.73, while non-GAAP earnings per diluted share were $3.43, marking an approximate 27% increase from the previous year and exceeding guidance. Synopsys expects a record full-year revenue with an anticipated growth of approximately 15%, driven by strong execution and business momentum. The company's president and CEO, Sassine Ghazi, highlighted the resilience of Synopsys' business and its critical role in technology innovation, particularly as companies leverage AI in the era of pervasive intelligence. CFO Shelagh Glaser noted the company's excellent performance in the third quarter, with non-GAAP EPS above guidance and a projected full-year revenue growth of 15% and non-GAAP EPS growth of 24%. Synopsys also provided financial targets for the fourth quarter and full fiscal year 2024, including an expected revenue range of $1.614 to $1.644 billion for the fourth quarter and $6.105 to $6.135 billion for the full year. The company held a conference call for financial analysts and investors to discuss the results.