Synopsys, Inc. has reported a robust financial performance for the third quarter of 2024, achieving a double beat with record revenue and exceeding earnings expectations. The company reported a revenue beat of 0.66%, with total revenue reaching $1.53 billion, a 13.3% increase year-over-year. Additionally, Synopsys raised its earnings per share (EPS) guidance, reflecting strong demand for its chip design software, driven by the accelerating adoption of AI system designs. CEO Sassine Ghazi highlighted the value of chip-to-systems design. The positive outlook is expected to continue into the fourth quarter, as Synopsys anticipates firm demand for its products.