Synopsys Q1 FY2024 revenue $1.65B (+21% YoY); GAAP EPS $2.89; non-GAAP EPS $3.56 above guidance

SYNOPSYS INC

2024-Q1 EPS reported $2.89 revenue$1,649,230,000

Record quarterly revenue of $1.649B, up ~21% YoY; GAAP net income $449.1M ($2.89 diluted EPS).
Non-GAAP net income $553.7M ($3.56 diluted EPS) exceeded high end of guidance range.
Reaffirmed full-year 2024 revenue and non-GAAP operating margin targets; raised non-GAAP EPS guidance.
Q1 included favorable impact of one extra week vs. prior year; robust design activity cited by CFO.
CEO highlights AI driving customer investments in silicon and systems for pervasive intelligence.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SYNOPSYS INC reported first quarter of fiscal year 2024 results: revenue $1.649 billion, net income $449.1 million, or $2.89 per diluted share. Guidance raised.

Period: first quarter of fiscal year 2024
Revenue: $1.649 billion
Net income: $449.1 million, or $2.89 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

Synopsys, Inc. (Nasdaq: SNPS ) today reported results for its first quarter of fiscal year 2024. Revenue for the first quarter of fiscal year 2024 was $1.649 billion

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Source: SEC EDGAR

accession 0001193125-24-041524

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