Synopsys (SNPS) Tops Q2 EPS by 24c, Revenues Beat; Offers 3Q & FY20 EPS/Revenue Guidance

Synopsys (NASDAQ: SNPS) reported Q2 EPS of $1.22, $0.24 better than the analyst estimate of $0.98. Revenue for the quarter came in at $861.33 million versus the consensus estimate of $837.28 million.

"Synopsys continues to execute well. We delivered excellent second quarter results, including revenue, non-GAAP earnings per share and operating cash flow that exceeded our targets. Our innovation continues at a rapid pace, as we introduced several exciting new products in the quarter," said Aart de Geus, chairman and co-CEO of Synopsys. "Even as the world grapples with unprecedented challenges, chip and system design activity remain robust. With a resilient business model and strong balance sheet, Synopsys is well-positioned to reaffirm our 2020 revenue and non-GAAP operating margin guidance and raise our non-GAAP earnings-per-share and operating cash flow targets."

GUIDANCE:

Synopsys sees Q3 2020 EPS of $1.33-$1.38, versus the consensus of $1.47. Synopsys sees Q3 2020 revenue of $875-905 million, versus the consensus of $948.71 million.

Synopsys sees FY2020 EPS of $5.21-$5.28, versus the consensus of $5.18. Synopsys sees FY2020 revenue of $3.6-3.65 billion, versus the consensus of $3.63 billion.

For earnings history and earnings-related data on Synopsys (SNPS) click here.

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