Press release
Synopsys Posts Financial Results for Third Quarter Fiscal Year 2023
Announces Sassine Ghazi to Assume President and CEO Role Effective Jan. 1, 2024 Q3 FY 2023 Summary Record quarterly revenue of $1.487 billion, up 19% year
About this update from Synopsys, Inc.
[{"type":"text","content":"Announces Sassine Ghazi to Assume President and CEO Role Effective Jan. 1, 2024\nQ3 FY 2023 Summary \nRecord quarterly revenue of $1.487 billion, up 19% year over year.GAAP earnings per diluted share of $2.17; non-GAAP earnings per diluted share of $2.88, exceeded high end of guidance.Raising full-year 2023 revenue, non-GAAP operating margin improvement, and earnings guidance; committed to long-term model of double-digit annual revenue growth.SUNNYVALE, Calif., Aug. 16, 2023 /PRNewswire/ -- Synopsys, Inc. (Nasdaq: SNPS) today reported results for its third quarter of fiscal year 2023. Revenue for the third quarter of fiscal year 2023 was $1.487 billion, compared to $1.248 billion for the third quarter of fiscal year 2022. Also today, the company announced that its Board of Directors has appointed Sassine Ghazi as President and Chief Executive Officer effective on January 1, 2024. \n\n \n \n \n \n \n \n\n \n\"We achieved another record quarter as semi design starts and R&D investments continue, unabated, to capitalize on the AI-driven, 'Smart Everything' era,\" said Aart de Geus, chair and CEO of Synopsys. \"Our relentless drive for innovation has made us a catalyst for our customers, with excellent forward momentum for Synopsys. Against this backdrop, I am thrilled with Sassine's transition into the CEO role. He's a proven leader, innovator, and trusted partner who will further inspire and grow our company. Sassine has my full support!\"\n\"I am incredibly honored, humbled, and profoundly grateful to the board, and Aart, for placing their unwavering trust in me,\" said Sassine Ghazi, president and COO of Synopsys. \"Aart built Synopsys from a disruptive start-up into one of the world's essential semiconductor ecosystem companies. I am so proud to have been a part of that journey for the last 25 years. I am determined to build upon our strong foundation, drive innovation, and propel Synopsys to even greater heights of success.\"\nSynopsys CFO, Shelagh Glaser, commented on the transition and the financial results: \"I look forward to partnering with Aart and Sassine on this leadership transition as we continue to deliver value for shareholders and customers. We outperformed our financial guidance for the third quarter led by record revenue in design automation, which delivered its first billion-dollar-revenue quarter. Strong opera...