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Synopsys Earnings Miss, Revenue Beats In Q1

Adobe Stock Falls 6% - Synopsys reported on Wednesday first quarter earnings that missed analysts' forecasts and revenue that topped expectations.

Synopsys announced earnings per share of $1.01 on revenue of $834.4M. Analysts polled by anticipated EPS of $1.2 on revenue of $821.56M. That with comparison to EPS of $1.08 on revenue of $820.4M in the same period a year before. Synopsys had reported EPS of $1.15 on revenue of $851.08M in the previous quarter. Analysts are expecting EPS of $1.25 and revenue of $843.79M in the upcoming quarter.

Synopsys shares are up 18.74% from the beginning of the year , still down 0.93% from its 52 week high of $166.85 set on February 19. They are outperforming the Nasdaq 100 which is up 10.41% year to date.

Synopsys shares lost 0.18% in after-hours trade following the report.

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