Synopsys Inc (NASDAQ:SNPS) reported fourth-quarter financial results after the market close on Wednesday. Here’s a rundown of the report.
- Q4 Revenue: $1.64 billion, versus estimates of $1.63 billion
- Q4 Adjusted EPS: $3.40, versus estimates of $3.30
“The fourth quarter was a strong finish to a transformational year for Synopsys. We achieved record financial results while doubling down on our strategy with the sale of our Software Integrity business and the pending acquisition of Ansys,” said Sassine Ghazi, president and CEO of Synopsys.
“Looking ahead, the AI-driven reinvention of compute is accelerating the pace, scale and complexity of technology R&D, which expands our opportunity to solve engineering challenges from silicon to systems.”
Synopsys said its previously announced acquisition of Ansys is expected to close in the first half of 2025. The company is working cooperatively with the Federal Trade Commission (FTC) to conclude the investigation and the staff’s review of Synopsys’ proposed remedies.
Outlook: Synopsys expects first-quarter revenue to be in the range of $1.435 billion to $1.465 billion versus estimates of $1.643 billion, according to Benzinga Pro. The company sees first-quarter adjusted earnings between $2.77 and $2.82 per share versus estimates of $3.53 per share.
Synopsys noted that its outlook reflects a change in the company’s fiscal year from a 52/53-week period ending on the Saturday nearest to Oct. 31 of each year to Oct. 31 of each year. As a result of this change, there will be 10 fewer days in the first half of fiscal year 2025.
“In 2025, we expect to deliver double-digit revenue growth grounded in pragmatism given continued macro uncertainties and the impact of our fiscal year calendar change,” said Shelagh Glaser, CFO of Synopsys.
SNPS Price Action: Synopsys shares were down 6.23% in after-hours, trading at $551.37 at the time of publication Wednesday, per Benzinga Pro.
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Photo: Courtesy of Synopsys.
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