Synopsys, Inc (NASDAQ:SNPS) shares are trading higher Thursday after the company posted better-than-expected first-quarter financial results after the bell Wednesday.
The Details:
Synopsys reported quarterly earnings of $3.56 per share, which beat the analyst consensus estimate of $3.43 by 3.79%.
The company reported quarterly sales of $1.65 billion, in line with the analyst consensus, and a 21.16% increase over sales of $1.36 billion from the same period last year.
Synopsys also issued strong guidance and said it sees second-quarter adjusted earnings of between $3.09 and $3.14 per share, versus the $3.01 estimate, and second-quarter revenue between $1.56 billion and $1.59 billion, versus the $1.55 billion estimate.
Synopsys shares may also be moving higher as AI-related companies move in …
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