Loading...
•
Jan 31, 2023
Synopsys Q1 2023 Earnings Report
Synopsys' Q1 2023 financial results were released, showcasing revenue growth and solid earnings per share.
Key Takeaways
Synopsys reported a strong start to fiscal year 2023, with revenue reaching $1.361 billion and non-GAAP EPS of $2.62, exceeding guidance targets. The company reaffirmed its FY23 targets, projecting continued revenue growth and non-GAAP operating margin expansion.
Revenue for Q1 FY2023 was $1.361 billion, up from $1.270 billion in Q1 FY2022.
GAAP earnings per diluted share were reported at $1.75, compared to $1.99 in the previous year.
Non-GAAP earnings per diluted share reached $2.62, an increase from $2.40 in the prior year.
Synopsys reaffirmed its FY23 targets, expecting 14-15% revenue growth and non-GAAP EPS growth of 18-19%.
Revenue by Segment
Forward Guidance
Synopsys provided financial targets for the second quarter and full fiscal year 2023, assuming no further changes to export control restrictions or the U.S. government Entity List restrictions.
Positive Outlook
- Second Quarter Revenue target: $1.360 to $1.390 billion
- Second Quarter GAAP EPS target: $1.62 to $1.72
- Second Quarter Non-GAAP EPS target: $2.45 to $2.50
- Full Fiscal Year Revenue target: $5.775 to $5.825 billion
- Full Fiscal Year Non-GAAP EPS target: $10.53 to $10.60
Challenges Ahead
- Second Quarter GAAP Expenses target: $1.085 to $1.105 billion
- Second Quarter Non-GAAP Expenses target: $917 to $927 million
- Second Quarter Non-GAAP Other Income (Expense) target: $(1) to $1 million
- Full Fiscal Year GAAP Expenses target: $4.544 to $4.591 billion
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...