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Apr 30, 2024
Synopsys Q2 2024 Earnings Report
Synopsys' Q2 2024 financial results were posted, demonstrating year-over-year revenue growth and exceeding earnings guidance.
Key Takeaways
Synopsys reported a strong Q2 fiscal year 2024, with revenue reaching $1.455 billion, a 15% increase year-over-year. GAAP EPS was $1.92 and non-GAAP EPS was $3.00, a 26% increase year-over-year. The company raised its full-year targets for revenue and non-GAAP EPS due to strong execution and continued business momentum.
Revenue reached $1.455 billion, up approximately 15% year over year.
GAAP earnings per diluted share was $1.92.
Non-GAAP earnings per diluted share was $3.00, up approximately 26% year over year.
Full year targets for revenue and non-GAAP EPS were raised.
Synopsys
Synopsys
Synopsys Revenue by Segment
Revenue by Segment
Design Automation Revenue
CapyFin.comDesign IP Revenue
CapyFin.com Forward Guidance
Synopsys provided its consolidated financial targets for continuing operations for the third quarter and full fiscal year 2024. The fiscal year targets include the impact of an extra week in fiscal year 2024, which was included in the first quarter of fiscal year 2024.
Positive Outlook
- Third Quarter Revenue target between $1.505 billion and $1.535 billion
- Third Quarter GAAP EPS target between $2.22 and $2.35
- Third Quarter Non-GAAP EPS target between $3.25 and $3.30
- Full Fiscal Year Revenue target between $6.090 billion and $6.150 billion
- Full Fiscal Year Non-GAAP EPS target between $12.90 and $12.98
Challenges Ahead
- GAAP Expenses for Third Quarter between $1.099 billion and $1.119 billion
- Non-GAAP Expenses for Third Quarter between $920 million and $930 million
- GAAP Expenses for Full Fiscal Year between $4.559 billion and $4.614 billion
- Non-GAAP Expenses for Full Fiscal Year between $3.770 billion and $3.810 billion
- Operating Cash Flow target ~$1.3 billion
Revenue & Expenses
Visualization of income flow from segment revenue to net income