Technology company Synopsys, Inc. (NASDAQ: SNPS) reported a modest increase in adjusted profit for the second quarter of 2023 when its revenues increased by 9%.
Second-quarter earnings, excluding special items, rose to $2.54 per share from $2.50 per share in the year-ago period. Net income was $272.9 million or $1.76 per share, compared to $294.8 million or $1.89 per share in the second quarter of 2022.
Total revenues rose 9% to $1.40 billion from $1.28 billion a year earlier. The company also provided financial guidance for the third quarter and fiscal 2023.
“Our financial performance is the product of a relentless drive for technology innovation and years of building trust in our customer base. Our industry-leading AI-driven design platform, Synopsys.ai, unleashes our next wave of impact as our customers drive a groundswell of ‘smart, secure, and safe’ new products,” said the company’s CEO Aart de Geus.
_________________________________________________________________________________________________________________
Stocks you may like:
International Business Machines Corp. (IBM) Stock
_________________________________________________________________________________________________________________
Most Popular
Key highlights from Deere & Co.’s (DE) Q4 2024 earnings results
Deere & Company (NYSE: DE) reported its fourth quarter 2024 earnings results today. Worldwide net sales and revenues decreased 28% year-over-year to $11.14 billion. Net income was $1.24 billion, or
NVDA Earnings: Nvidia Q3 profit jumps, beats estimates
NVIDIA Corporation (NASDAQ: NVDA) on Wednesday reported a sharp increase in adjusted profit and revenue for the third quarter of 2025. Earnings also topped analysts' estimates. The tech firm’s revenues
Lowe’s Companies (LOW): A few points to note about the Q3 2024 performance
Shares of Lowe’s Companies, Inc. (NYSE: LOW) rose over 1% on Wednesday. The stock has gained 8% over the past three months. The company delivered better-than-expected earnings results for the