Benzinga | Feb 17, 2021 04:23PM EST

Recap: Synopsys Q1 Earnings

Shares of Synopsys (NASDAQ:SNPS) fell 2.4% in after-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share increased 50.50% over the past year to $1.52, which beat the estimate of $1.47.

Revenue of $970,321,000 higher by 16.29% from the same period last year, which beat the estimate of $958,780,000.

Guidance

Synopsys Sees Q2 EPS $1.50-$1.55 Vs. $1.53 Est., Sales $970M-$1B Vs. $987.51M Est.; FY21 EPS $6.23-$6.30 Vs. $6.30 Est., Sales $4B-$4.05B Vs. $4.03B Est.

Conference Call Details

Date: Feb 17, 2021

Time: 05:00 PM

ET Webcast URL: https://www.synopsys.com/company/investor-relations/events.html

Price Action

Company's 52-week high was at $300.91

52-week low: $104.90

Price action over last quarter: Up 21.02%

Company Description

Synopsys was founded in December 1986 (called Optimal Solutions until 1987) and is a market leader in electronic design automation software. EDA is used to automate the design and verification of integrated circuits or larger chip systems. The firm provides an end-to-end workflow of EDA products. In addition, the firm offers a broad set of design intellectual property and leading software integrity tools that help customers develop secure, quality code. Historically, the firm's tools have been relied upon by semiconductor firms, but there has been a shift toward other nontraditional "systems" users (nonsemiconductor firms interested in chip design) given the development of the Internet of Things, artificial intelligence, autonomous vehicles, and cloud computing.