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Earnings Call Summary | Synopsys(SNPS.US) Q2 2024 Earnings Conference

Futu News ·  May 23 10:56  · Conference Call

The following is a summary of the Synopsys, Inc. (SNPS) Q2 2024 Earnings Call Transcript:

Financial Performance:

  • Synopsys reported a Q2 revenue growth of 15% year-over-year, reaching the high-end of their guided range.

  • Non-GAAP operating margin increased 3 points year-over-year to 37.3%.

  • Non-GAAP EPS saw a 26% year-over-year increase which exceeded guidance.

  • The company updated their revenue and non-GAAP EPS guidance for the full year due to continued business momentum.

  • Synopsys reported a robust non-cancellable backlog of $7.9 billion.

Business Progress:

  • Synopsys highlighted the increase in systemic complexity driven by influences such as AI, silicon proliferation, and software-defined systems.

  • The company reported 14% year-over-year revenue growth in their Design Automation segment, driven by increasing adoption of synopsys.ai.

  • Demand for interface IP for AI and data center applications caused a 19% revenue growth in Synopsys's Design IP segment.

  • Synopsys plans to acquire Ansys, with the transaction expected to close in early 2025.

  • The company has agreed to sell their software integrity business for $2.1 billion, expected to finalize in late 2024.

  • Synopsys continues to invest in design automation and design IP, steadily building out IP blocks for leading-edge technology.

More details: Synopsys IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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