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Synopsys: Fiscal Q1 Earnings Snapshot

February 16, 2022 GMT

MOUNTAIN VIEW, Calif. (AP) _ Synopsys Inc. (SNPS) on Wednesday reported fiscal first-quarter earnings of $313.7 million.

The Mountain View, California-based company said it had net income of $1.99 per share. Earnings, adjusted for one-time gains and costs, came to $2.40 per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.37 per share.

The maker of software used to test and develop chips posted revenue of $1.27 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $1.26 billion.

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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