Synopsys Q2 revenue, adjusted EPS beat estimates
Synopsys Q2 revenue, adjusted EPS beat estimates
Overview
EDA and semiconductor IP firm's fiscal Q2 revenue rose, beating analyst expectations
Adjusted EPS for fiscal Q2 beat consensus
Outlook
Synopsys raises full-year revenue guidance to $9.665 bln at midpoint
Company lifts full-year non-GAAP EPS target to $14.76 at midpoint
Synopsys expects Q3 revenue between $2.41 bln and $2.46 bln
Result Drivers
AI-DRIVEN DEMAND - Co said scaling AI is driving increased semiconductor demand, boosting results across its portfolio
COST DISCIPLINE - Expanded operating margin and improved non-GAAP EPS attributed to strong cost discipline and accelerating synergies
Company press release: ID:nPn4khZnza
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $2.28 bln | $2.25 bln (17 Analysts) |
Q2 Adjusted EPS | Beat | $3.35 | $3.15 (17 Analysts) |
Q2 EPS |
| $0.09 |
|
Q2 Adjusted Net Income | Beat | $643.7 mln | $607.24 mln (14 Analysts) |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 17 "strong buy" or "buy", 7 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the software peer group is "buy"
Wall Street's median 12-month price target for Synopsys Inc is $552.50, about 3.4% above its May 26 closing price of $534.56
The stock recently traded at 34 times the next 12-month earnings vs. a P/E of 31 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)