Synopsys: Fiscal Q3 Earnings Snapshot

MOUNTAIN VIEW, Calif. (AP) — MOUNTAIN VIEW, Calif. (AP) — Synopsys Inc. (SNPS) on Wednesday reported fiscal third-quarter profit of $336.3 million.

On a per-share basis, the Mountain View, California-based company said it had profit of $2.17. Earnings, adjusted for one-time gains and costs, were $2.88 per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.73 per share.

The maker of software used to test and develop chips posted revenue of $1.49 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $1.48 billion.

For the current quarter ending in October, Synopsys expects its per-share earnings to range from $3.01 to $3.06. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.73.

The company said it expects revenue in the range of $1.57 billion to $1.6 billion for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $1.23 billion.

Synopsys expects full-year earnings in the range of $11.04 to $11.09 per share, with revenue ranging from $5.81 billion to $5.84 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