Synopsys, Inc. Q2 Profit Decreases, but beats estimates

(RTTNews) - Synopsys, Inc. (SNPS) released earnings for second quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $272.91 million, or $1.76 per share. This compares with $294.78 million, or $1.89 per share, in last year's second quarter.

Excluding items, Synopsys, Inc. reported adjusted earnings of $393.28 million or $2.54 per share for the period.

Analysts on average had expected the company to earn $2.46 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 8.6% to $1.39 billion from $1.28 billion last year.

Synopsys, Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $272.91 Mln. vs. $294.78 Mln. last year. -EPS (Q2): $1.76 vs. $1.89 last year. -Analyst Estimates: $2.46 -Revenue (Q2): $1.39 Bln vs. $1.28 Bln last year.

-Guidance: Next quarter EPS guidance: $2.70 - $2.75 Next quarter revenue guidance: $1,465 - $1,495 Mln Full year EPS guidance: $10.77 - $10.84 Full year revenue guidance: $5,790 - $5,830 Mln