secwatch.observer — SEC 8-K summary
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Issuer:     SYNOPSYS INC (SNPS)
CIK:        0000883241
Form:       8-K
Filed at:   2024-02-21T23:59:59+00:00
Accession:  0001193125-24-041524
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/883241/000119312524041524/0001193125-24-041524-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/883241/000119312524041524/d759623d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-041524

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer