On Wednesday, Synopsys, Inc. (NASDAQ:SNPS) reported strong third-quarter results and raised outlook.
During the call, CEO Sassine Ghazi said AI is creating unprecedented complexity and driving stronger demand for the silicon IP and engineering solutions needed to build next-generation AI computing, infrastructure and physical AI systems.
The company reported adjusted EPS of $3.91, beating the analyst consensus estimate of $3.67, according to Benzinga Pro data.
Revenue rose 42% year over year to $2.48 billion, topping the $2.44 billion Street estimate. The company cited broad-based strength across EDA, Ansys and design IP.
Free cash flow was $746 million, with $3.6 billion in cash and short-term investments against about $10 billion of debt.
