Published on 23 May 2024 on Zacks via Yahoo Finance
Synopsys (SNPS) Q2 Earnings and Revenues Miss Estimates
Synopsys SNPS missed both revenue and earnings estimates in the second quarter of 2024. The company’s second-quarter non-GAAP earnings per share (EPS) of $3 marginally lagged the Zacks Consensus Estimate of $3.03. However, the bottom line improved 26% year over year, primarily driven by higher revenues and better cost management.
Revenues jumped 15% year over year to $1.45 billion but missed the Zacks Consensus Estimate of $1.51 billion. The top line was driven by growth across multiple business segments.