Synopsys' (SNPS) Q1 Earnings And Revenues Surpass Estimates
Zacks Investment Research | Feb 19, 2020 09:08PM ET
Synopsys Inc.’s (NASDAQ:SNPS) first-quarter fiscal 2020 non-GAAP earnings of $1.01 per share beat the Zacks Consensus Estimate by 9.78%. However, the figure declined 6.5% year over year.
Further, revenues grew 1.7% year over year to $834.4 million and surpassed the Zacks Consensus Estimate of $822 million.
The company is benefiting from increasing global design activity and customer engagements. Rising impact of machine learning, AI, Automotive, 5G, IoT and Cloud, and the proliferation of Smart Everything are boosting demand for its advanced solutions.
However, a challenging global market, geopolitical tensions and unevenness in the semiconductor industry are key headwinds.
Synopsys, Inc. Price, Consensus and EPS Surprise
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