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Apr 30, 2023
Synopsys Q2 2023 Earnings Report
Synopsys' Q2 2023 financial results were released, demonstrating revenue growth and exceeding guidance targets.
Key Takeaways
Synopsys reported a record quarterly revenue of $1.395 billion for Q2 2023, exceeding all guidance targets. The company's GAAP earnings per diluted share was $1.76, and non-GAAP earnings per diluted share was $2.54. Synopsys is raising its full year guidance and expects revenue growth of 14-15%, non-GAAP operating margin accretion of 150 basis points to 34.5%, and non-GAAP earnings per share growth of 21-22%.
Synopsys achieved a record quarterly revenue of $1.395 billion.
GAAP earnings per diluted share were reported at $1.76.
Non-GAAP earnings per diluted share reached $2.54.
Full year guidance was raised, projecting significant revenue and earnings growth.
Revenue by Segment
Forward Guidance
Synopsys provided its consolidated financial targets for the third quarter and full fiscal year 2023, assuming no further changes to export control restrictions or the current U.S. government “Entity List” restrictions.
Positive Outlook
- Revenue is expected to be between $1.465 billion and $1.495 billion for Q3 2023.
- Full year revenue is projected to be between $5.790 billion and $5.830 billion.
- Q3 GAAP EPS is estimated to be between $1.88 and $1.99.
- Full year GAAP EPS is expected to be between $7.44 and $7.60.
- Operating cash flow is anticipated to be approximately $1.65 billion for the full year.
Challenges Ahead
- Q3 GAAP expenses are projected to be between $1.143 billion and $1.163 billion.
- Full year GAAP expenses are expected to be between $4.520 billion and $4.565 billion.
- Uncertainty in the global economy
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
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