Press release
Synopsys Posts Financial Results for Fourth Quarter and Fiscal Year 2023
Results Summary Record quarterly revenue of $1.599 billion, up approximately 25% year over year. Record fiscal-year revenue of $5.843 billion, up
About this update from Synopsys, Inc.
[{"type":"text","content":"Results Summary \nRecord quarterly revenue of $1.599 billion, up approximately 25% year over year. Record fiscal-year revenue of $5.843 billion, up approximately 15% year over year.Quarterly GAAP earnings per diluted share of $2.26; non-GAAP earnings per diluted share of $3.17, which exceeded high end of guidance. Fiscal year GAAP earnings per diluted share of $7.92; non-GAAP earnings per diluted share of $11.19, which exceeded high end of guidance.SUNNYVALE, Calif., Nov. 29, 2023 /PRNewswire/ -- Synopsys, Inc. (Nasdaq: SNPS) today reported results for its fourth quarter and fiscal year 2023. Revenue for the fourth quarter of fiscal year 2023 was $1.599 billion, compared to $1.284 billion for the fourth quarter of fiscal year 2022. Revenue for fiscal year 2023 was $5.843 billion, an increase of approximately 15% from $5.082 billion in fiscal year 2022.\n\n \n \n \n \n \n \n\n \n\"In our 37 years as a company, Synopsys has driven a roughly 10 million-fold increase in chip design productivity. This not only enabled the exponential ambition of the semiconductor industry, it, in turn, radically impacted the world,\" said Aart de Geus, chair and CEO of Synopsys. \"Our momentum continued in 2023 as we substantially expanded our AI-driven design differentiation, our semiconductor IP portfolio, and our multi-die system solutions. We also visibly strengthened our customers' differentiation through unique and deep collaborations. Looking ahead, I have great confidence, expectations, and enthusiasm for our future as Sassine Ghazi becomes Synopsys' CEO.\" \n\"Despite global macroeconomic uncertainty, 2023 was a year of record revenue and profitability for Synopsys as silicon R&D and design-starts remain robust. I want to extend my deepest thanks to our team for their stellar execution and to our partners and customers for their commitment,\" said Sassine Ghazi, president and COO of Synopsys. \"We start 2024 with tremendous forward momentum driven by a resilient business model, technology trends – chief among them AI – that create a rising tide for our business, and customers who continue to prioritize investments in the chips and systems that position them for the future. I am profoundly grateful for the opportunity to propel Synopsys to the next wave of growth as its CEO.\"\n\"We had strong execution and outperformed our guidance in the fo...