Synopsys: Fiscal Q1 Earnings Snapshot

Audio By Carbonatix

SUNNYVALE, Calif. (AP) — SUNNYVALE, Calif. (AP) — Synopsys Inc. (SNPS) on Wednesday reported fiscal first-quarter net income of $295.7 million.

The Sunnyvale, California-based company said it had profit of $1.89 per share. Earnings, adjusted for one-time gains and costs, were $3.03 per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.81 per share.

The maker of software used to test and develop chips posted revenue of $1.46 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $1.45 billion.

For the current quarter ending in April, Synopsys expects its per-share earnings to range from $3.37 to $3.42.

The company said it expects revenue in the range of $1.59 billion to $1.62 billion for the fiscal second quarter.

Synopsys expects full-year earnings in the range of $14.88 to $14.96 per share, with revenue ranging from $6.75 billion to $6.81 billion.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SNPS at https://www.zacks.com/ap/SNPS