Synopsys, Inc. (NASDAQ: SNPS), a leading electronic design automation company, has reported a double-digit increase in revenues and adjusted profit for the second quarter of 2024.
Total revenue increased 15% year-over-year to $1.46 billion in the April quarter. Net income rose 7% from last year to $292.1 million or $1.88 per share during the three months. On an adjusted basis, earnings climbed 26% to $3.00 per share in Q2 from $2.38 per share last year.
For the third quarter of 2024, the company expects revenue to be in the range of $1.51 billion to $1.54 billion. Full-year revenue is estimated to be between $6.09 billion and $6.15 billion.