Synopsys Shares Up On Higher Q2 Results, Raised FY25 EPS Outlook

Synopsys

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(RTTNews) - Shares of Synopsys Inc. (SNPS) were up 4 percent on Wednesday's extended hours after the company posted improved results in its second quarter, helped by higher revenues. The company also provided outlook for the third quarter and lifted its earnings per share outlook for the year ahead.

For the third quarter, the software company expects earnings per share between $3.82 and $3.87 on revenues in the $1.755 - $1.785 billion range.

On average, Wall Street analysts expect the company to post earnings of $3.87 per share on revenues of $1.77 billion. Analysts estimates, usually, exclude special items.

For fiscal 2025, the company now expects earnings per share in the range of $15.11 - $15.19, higher than the earlier forecast of between $14.88 and $14.96. Revenues are projected between $6.745 billion and $6.805 billion.

Wall Street analysts expect the company to post earnings of $15.15 per share on revenues of $6.78 billion for the year ahead.

In its latest quarter, the company posted profit of $345.3 million, or $2.21 per share, higher than last year's $292.1 million, or $1.88 per share.

Excluding items, Synopsys reported earnings of $572.7 million or $3.67 per share for the quarter, compared to earnings of $466.9 million, or $3.00 per share, for the second quarter of fiscal 2024.

The company's revenue for the period rose 10.3 percent to $1.604 billion from $1.454 billion last year.

On the NYSE, the stock rose 4 percent on Wednesday's after-hours to $479.50. SNPS ended Wednesday's trade at $462.43, down 10 percent.