Synopsys Q2 revenue $1.455B (+15% YoY), non-GAAP EPS $3.00 (+26%); raises FY2024 targets

SYNOPSYS INC

2024-Q2 EPS reported $4.76 revenue$2,965,701,000

GAAP net income $299.1M ($1.92/diluted share); non-GAAP net income $466.9M ($3.00/diluted share), beating guidance.
Revenue up ~15% YoY to $1.455B, at high end of guidance; Design Automation and Design IP segments drove growth.
Full-year FY2024 revenue and non-GAAP EPS targets raised; Q3 guidance implies continued momentum.
Ansys shareholder approved planned acquisition; Synopsys expects deal to close in H1 2025.
Software Integrity business classified as discontinued operation following planned sale; results on continuing operations basis.

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