Synopsys, Inc. (NASDAQ:SNPS) released its third-quarter results after Tuesday's closing bell. Here's a look at the key figures from the quarter.
- SNPS is dropping after earnings. See the price action here.
The Details: Synopsys reported adjusted earnings of $3.39 per share, which missed the Street estimate of $3.74.
Quarterly revenue came in at $1.73 billion, which missed the consensus estimate of $1.76 billion and is up from revenue of $1.52 billion for the third quarter of fiscal year 2024.
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“Q3 was a transformational quarter. Against a challenging geo-political backdrop, we closed the Ansys acquisition — expanding our portfolio, customer base and opportunity. Now more than ever, Synopsys is the mission-critical partner technology R&D needs to design and deliver AI-powered products,” said Sassine Ghazi, CEO of Synopsys.
“While I’m proud of how our team navigated external challenges in the quarter, our IP business underperformed expectations. We are taking action to enhance our competitive advantage and drive resilient, long-term growth,” Ghazi added.
Outlook: The company lowered its fiscal 2025 adjusted EPS guidance from a range of $15.11 to $15.19 to a new range of $12.76 to $12.80, versus the $15 estimate.
SNPS Stock Price: According to data from Benzinga Pro, Synopsys stock was down 13.58% at $522.30 in Tuesday's extended trading.
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