Synopsys Q2 Earnings: $1.455B Revenue and $3.00 EPS Miss Estimates, Full-Year Guidance Lowered

Synopsys Inc. reported its Q2 2024 earnings with a revenue of $1.455 billion, which is up approximately 15% year over year but missed the estimate of $1.519 billion. The company posted an adjusted EPS of $3.00, slightly below the $3.03 estimate. Despite these misses, the earnings per share exceeded the non-GAAP guidance, showing a 26% increase year over year. Synopsys also revised its full-year guidance, now expecting revenue between $6.09 billion and $6.15 billion, down from the previous forecast of $6.57 billion to $6.63 billion. The full-year adjusted EPS guidance was also revised to $12.90-$12.98 from the prior $13.47-$13.55. The stock initially dropped by 3% but may be influenced by movements in Nvidia's stock. Market Cap: 87.32B.