Synopsys: Fiscal Q2 Earnings Snapshot

MOUNTAIN VIEW, Calif. (AP) _ Synopsys Inc. (SNPS) on Wednesday reported fiscal second-quarter earnings of $294.8 million.

The Mountain View, California-based company said it had profit of $1.89 per share. Earnings, adjusted for one-time gains and costs, came to $2.50 per share.

The results beat Wall Street expectations. The average estimate of four 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 $1.28 billion in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $1.25 billion.

For the current quarter ending in August, Synopsys expects its per-share earnings to range from $2.01 to $2.06. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.54.

The company said it expects revenue in the range of $1.21 billion to $1.24 billion for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $1.12 billion.

Synopsys expects full-year earnings in the range of $8.63 to $8.70 per share, with revenue ranging from $5 billion to $5.05 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