Synopsys 2Q Revenue Rises as Ansys Shareholders Approve Deal

By Ben Glickman

Synopsys said its revenue rose in the fiscal second quarter as the company looks to close its blockbuster deal for Ansys.

The chip-design software company Wednesday reported a profit of $292.1 million, or $1.88 a share, in the quarter ended April 30, compared with a profit of $272.9 million, or $1.76 a share, a year earlier. Analysts polled by FactSet expected a per-share profit of $2.02.

Stripping out certain one-time items, the company posted an adjusted profit of $3 a share, greater than the $2.95 expected by analysts surveyed by FactSet.

Revenue rose 15% to $1.45 billion, ahead of the $1.44 billion expected by analysts polled by FactSet.

Chief Executive Sassine Ghazi said the company expected its deal to acquire Ansys, which was approved by shareholders of the company on Wednesday, would further its mission.

Synopsys said it now expects $6.09 billion to $6.15 billion in revenue in the fiscal year ending Oct. 31, compared with its previous guidance of $6.57 billion to $6.63 billion. The company's updated guidance excludes software integrity business, which it agreed to sell earlier this month.

The company expects adjusted per-share profit of $12.90 to $12.98, compared with previous guidance of $13.47 to $13.55.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

May 22, 2024 17:02 ET (21:02 GMT)

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