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Synopsys Posts Financial Results for Second Quarter Fiscal Year 2022
Q2 FY 2022 Financial Highlights Revenue: $1.279 billion GAAP earnings per diluted share: $1.89 Non-GAAP earnings per diluted share: $2.50 MOUNTAIN VIEW,
About this update from Synopsys, Inc.
[{"type":"text","content":"Q2 FY 2022 Financial Highlights\nRevenue: $1.279 billion GAAP earnings per diluted share: $1.89 Non-GAAP earnings per diluted share: $2.50 MOUNTAIN VIEW, Calif., May 18, 2022 /PRNewswire/ -- Synopsys, Inc. (Nasdaq: SNPS) today reported results for its second quarter fiscal year 2022. Revenue for the second quarter of fiscal year 2022 was $1.279 billion, compared to $1.024 billion for the second quarter of fiscal year 2021. \n\"Synopsys delivered an outstanding fiscal second quarter, exceeding our guidance targets with strength across all product groups and geographies. Based on strong first half execution and confidence in our business, we are raising our full-year targets substantially,\" said Aart de Geus, chairman and CEO of Synopsys. \"Our financial momentum builds on three drivers: an unmatched product portfolio with groundbreaking new innovations, robust semiconductor and electronics market demand, and excellent operational execution. Notwithstanding macroeconomic choppiness in an uncertain geopolitical environment, our customers continue to prioritize investments to enable the new \"smart everything\" era. For fiscal 2022, we expect to grow annual revenue approximately 20% and pass the $5 billion milestone, drive further operating margin expansion, grow earnings per share by more than 25%, and generate approximately $1.6 billion in operating cash flow.\"\nGAAP Results\nOn a generally accepted accounting principles (GAAP) basis, net income for the second quarter of fiscal year 2022 was $294.8 million, or $1.89 per diluted share, compared to $195.1 million, or $1.24 per diluted share, for the second quarter of fiscal year 2021. \nNon-GAAP Results\nOn a non-GAAP basis, net income for the second quarter of fiscal year 2022 was $390.8 million, or $2.50 per diluted share, compared to non-GAAP net income of $267.1 million, or $1.70 per diluted share, for the second quarter of fiscal year 2021. \nFor a reconciliation between GAAP and non-GAAP results, see \"GAAP to Non-GAAP Reconciliation\" in the accompanying tables below. \nBusiness Segments \nSynopsys reports revenue and operating income in two segments: (1) Semiconductor & System Design, which includes EDA tools, IP products, system integration solutions and other associated revenue categories, and (2) Software Integrity, which includes a comprehensive solution for building i...