Synopsys Touts 'Signifiant' Momentum Ahead as Q1 Guidance Tops Estimates

© Reuters.

By Yasin Ebrahim – Synopsys (NASDAQ:) delivered Wednesday better-than-expected fiscal first quarter guidance after reporting fourth-quarter that beat analysts’ forecasts and revenue that was inline with expectations.

For Q1 2022, EPS was guided in a range of $2.35 to $2.40 and revenue in a range of $1.250 billion to 1.280 billion, ahead of Wall Street estimates for $1.76 and $1.10 billion, respectively.

Synopsys announced earnings per share of $1.82 on revenue of $1.15 billion. Analysts polled by anticipated EPS of $1.79 on revenue of $1.15 billion.

For full-year 2022, EPS was expected to be between $7.73 and $7.80 on revenue of between $4.725 billion and 4.775 billion, ahead of consensus for $7.65 and $4.63 billion.

“Synopsys delivered another record fiscal year in 2021, substantially exceeding our original targets, with strength in all product groups and geographies. We are entering fiscal year 2022 with significant financial, technology and customer momentum,” the company said.

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