Synopsys, Inc. (NASDAQ: SNPS), a leading electronic design automation company, is all set to report its third-quarter 2023 results today after the closing bell.
When the July quarter report comes at 4:05 pm ET, market watchers will be looking for an adjusted profit of $2.74 per share, which would be higher by 30% from the corresponding period of fiscal 2022. The consensus revenue estimate is $1.48 billion, compared to $1.25 billion in the prior-year quarter.
For the second quarter, Synopsys reported a modest increase in adjusted earnings to $2.54 per share. The bottom line benefitted from a 9% increase in revenues to $1.40 billion, mainly reflecting double-digit growth in the core Design Automation segment.
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
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