Press release
Synopsys Posts Financial Results for Third Quarter Fiscal Year 2024
Results Summary1 Record quarterly revenue of $1.526 billion, up approximately 13% year over year.Quarterly GAAP earnings per diluted share of $2.73; non-GAAP
About this update from Synopsys, Inc.
[{"type":"text","content":"Results Summary1 \nRecord quarterly revenue of $1.526 billion, up approximately 13% year over year.Quarterly GAAP earnings per diluted share of $2.73; non-GAAP earnings per diluted share of $3.43, up approximately 27% year over year and exceeding guidance.Expecting record full-year revenue with growth of approximately 15% driven by continued, strong execution and business momentum.SUNNYVALE, Calif., Aug. 21, 2024 /PRNewswire/ -- Synopsys, Inc. (Nasdaq: SNPS) today reported results for its third quarter of fiscal year 2024. Revenue for the third quarter of fiscal year 2024 was $1.526 billion, compared to $1.354 billion for the third quarter of fiscal year 2023. \n\n \n \n \n \n \n \n\n \n\"Our strong third quarter results and expectations for a record year continue to demonstrate the resiliency of Synopsys' business,\" said Sassine Ghazi, president and CEO of Synopsys. \"The complexity and pace of technology innovation is accelerating as silicon and systems companies race to capitalize on AI in this era of pervasive intelligence. Synopsys is mission-critical to technology innovation and our customer set is expanding as more companies in more industries define and optimize system performance at the silicon level.\"\n\"Synopsys delivered an excellent third quarter, setting a new quarterly revenue record and achieving non-GAAP EPS above our guidance range,\" said Shelagh Glaser, CFO of Synopsys. \"The strong momentum across the business is a result of our leadership products and relentless execution. For the full year, we expect to achieve revenue growth of approximately 15% and non-GAAP EPS growth of approximately 24% while expanding non-GAAP operating margin by two points.\"\n____________________________________________\n1 Synopsys' Software Integrity business has been presented as a discontinued operation in the consolidated financial statements for all periods presented herein and all financial results and targets are presented herein on a continuing operations basis unless otherwise noted.\nContinuing Operations On May 5, 2024, Synopsys entered into an agreement to sell its Software Integrity business. Unless otherwise noted, Synopsys' Software Integrity business has been presented as a discontinued operation in the consolidated financial statements for all periods presented herein and all financial results and targets are pres...