WASHINGTON (dpa-AFX) - Synopsys, Inc. (SNPS) reported a profit for its second quarter that increased from last year, with adjusted earnings coming in above the company's guidance.
The company's bottom line came in at $299.1 million, or $1.92 per share. This compares with $275.6 million, or $1.78 per share, in last year's second quarter.
Excluding items, Synopsys reported adjusted earnings of $466.9 million or $3.00 per share for the period.
At its Investor Day in March, Synopsys had lowered its adjusted earnings guidance to a range of $2.93 - $2.98 per share from prior guidance of $3.09 - $3.14 per share.
The company's revenue for the quarter rose 15.2% to $1.455 billion from $1.263 billion last year. Synopsys had forecast revenue in a range of $1.425 to $1.455 billion.
Looking ahead, Synopsys raised its full year targets for revenue and non-GAAP EPS, based on strong execution and continued business momentum.
Synopsys, Inc. earnings at a glance (GAAP):
-Earnings (Q2): $299.1 Mln. vs. $275.6 Mln. last year. -EPS (Q2): $1.92 vs. $1.78 last year. -Revenue (Q2): $1.46 Bln vs. $1.26 Bln last year.
-Guidance: Next quarter EPS guidance: $2.22-$2.35 Next quarter revenue guidance: $1.5-$1.53 Billion Full year EPS guidance: $9.14-$9.36 Full year revenue guidance: $6.09-$6.15 Billion
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