Press release
Synopsys Posts Financial Results for Second Quarter Fiscal Year 2023
Q2 FY 2023 Financial Highlights Revenue: $1.395 billionGAAP earnings per diluted share: $1.76Non-GAAP earnings per diluted share: $2.54MOUNTAIN VIEW, Calif.,
About this update from Synopsys, Inc.
[{"type":"text","content":"Q2 FY 2023 Financial Highlights\nRevenue: $1.395 billionGAAP earnings per diluted share: $1.76Non-GAAP earnings per diluted share: $2.54MOUNTAIN VIEW, Calif., May 17, 2023 /PRNewswire/ -- Synopsys, Inc. (Nasdaq: SNPS) today reported results for its second quarter of fiscal year 2023. Revenue for the second quarter of fiscal year 2023 was $1.395 billion, compared to $1.279 billion for the second quarter of fiscal year 2022.\n\n \n \n \n \n \n \n\n \n\"Synopsys generated excellent financial results and operational execution in the second quarter. We exceeded all our guidance targets, while reaching another quarterly revenue record,\" said Aart de Geus, Chair and CEO of Synopsys. \"Our financial performance is the product of a relentless drive for technology innovation and years of building trust in our customer base. Our industry-leading AI-driven design platform, Synopsys.ai, unleashes our next wave of impact as our customers drive a groundswell of 'smart, secure, and safe' new products.\"\n\"Exceptional execution across the company drove strong quarterly financial performance,\" said Shelagh Glaser, CFO of Synopsys. \"We have a resilient business model uncommon in software companies and remain confident in our business. We are raising our full year guidance and expect revenue growth of 14-15%, non-GAAP operating margin accretion of 150 basis points to 34.5%, and non-GAAP earnings per share growth of 21-22%.\"\nGAAP ResultsOn a generally accepted accounting principles (GAAP) basis, net income for the second quarter of fiscal year 2023 was $272.9 million, or $1.76 per diluted share, compared to $294.8 million, or $1.89 per diluted share, for the second quarter of fiscal year 2022.\nNon-GAAP ResultsOn a non-GAAP basis, net income for the second quarter of fiscal year 2023 was $393.3 million, or $2.54 per diluted share, compared to non-GAAP net income of $390.8 million, or $2.50 per diluted share, for the second 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 Synopsys reports revenue and operating income in three segments: (1) Design Automation, which includes digital and custom integrated circuit (IC) design software, verification hardware and sof...