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Investing.com — Synopsys (NASDAQ:SNPS) reported Wednesday second-quarter results and guidance for the current quarter that beat analysts’ forecasts, as ongoing adoption of big data and machine learning bolstered demand.
Synopsys shares gained more than 4% in after-hours trade following the report.
Synopsys announced earnings per share of $2.5 on revenue of $1.28B. Analysts polled by Investing.com anticipated EPS of $2.37 on revenue of $1.26B.
The ongoing demand for “smart” technology bolstered growth despite a difficult market backdrop.
“Notwithstanding macroeconomic choppiness in an uncertain geopolitical environment, our customers continue to prioritize investments to enable the new ‘smart everything’ era,” the company said.
Looking ahead, the company guided EPS in a range of $2.01 to $2.06 and revenue of $1.21 billion to $1.24 billion, above expectations for $1.61 and $1.14 billion respectively.
“For fiscal 2022, we expect to grow annual revenue approximately 20% and pass the $5 billion milestone, drive further operating margin expansion, grow earnings per share by more than 25%, and generate approximately $1.6 billion in operating cash flow,” the company said.
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