Press release
Synopsys Posts Financial Results for First Quarter Fiscal Year 2023
Q1 FY 2023 Financial Highlights Revenue: $1.361 billionGAAP earnings per diluted share: $1.75Non-GAAP earnings per diluted share: $2.62MOUNTAIN VIEW, Calif.,
About this update from Synopsys, Inc.
[{"type":"text","content":"Q1 FY 2023 Financial Highlights\nRevenue: $1.361 billionGAAP earnings per diluted share: $1.75Non-GAAP earnings per diluted share: $2.62MOUNTAIN VIEW, Calif., Feb. 15, 2023 /PRNewswire/ -- Synopsys, Inc. (Nasdaq: SNPS) today reported results for its first quarter of fiscal year 2023. Revenue for the first quarter of fiscal year 2023 was $1.361 billion, compared to $1.270 billion for the first quarter of fiscal year 2022.\n\"Synopsys delivered a solid start to the year. Building on our strength and momentum from 2022, we met or exceeded all of our guidance targets, and based on the continued robust design activity, we remain confident in our business,\" said Aart de Geus, Chair and CEO of Synopsys. \"As a key technology catalyst in the 'Smart Everything' world, we are driving groundbreaking innovations that radically advance the design of complex chips and software. For FY'23, we are reaffirming our targets of 14-15% revenue growth and continued non-GAAP operating margin expansion, and expect to grow non-GAAP earnings per share by 18-19%.\"\nGAAP ResultsOn a generally accepted accounting principles (GAAP) basis, net income for the first quarter of fiscal year 2023 was $271.5 million, or $1.75 per diluted share, compared to $313.7 million, or $1.99 per diluted share, for the first quarter of fiscal year 2022. \nNon-GAAP ResultsOn a non-GAAP basis, net income for the first quarter of fiscal year 2023 was $406.7 million, or $2.62 per diluted share, compared to non-GAAP net income of $376.9 million, or $2.40 per diluted share, for the first quarter of fiscal year 2022.\nFor a reconciliation of net income, earnings per diluted share and other measures on a GAAP and non-GAAP basis, see \"GAAP to Non-GAAP Reconciliation\" in the accompanying tables below. \nBusiness Segments Beginning in fiscal year 2023, Synopsys began reporting revenue and operating income in three segments: (1) Design Automation, which includes digital and custom integrated circuit (IC) design software, verification hardware and software products, manufacturing-related design products, field-programmable gate array (FPGA) design software, optical products, professional services, and other; (2) Design IP, which includes our Synopsys IP portfolio; and (3) Software Integrity, which includes solutions that test software code for security vulnerabilities and quality defec...