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The chip design software company reported $2.48 billion in quarterly revenue and lifted its full-year revenue target to $9.715 billion at the midpoint
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Synopsys $SNPS reported fiscal third-quarter revenue of $2.477 billion and raised its full-year guidance on Wednesday, though shares dropped 4% in after-hours trading despite the better-than-expected numbers, according to Seeking Alpha.
Revenue for the quarter ending July 31 rose from $1.740 billion in the same period a year earlier, the company said. On a GAAP basis, net income came in at $545.8 million, or $2.84 per diluted share, compared with $242.5 million, or $1.50 per diluted share, in the year-ago quarter. On a non-GAAP basis, earnings per diluted share were $3.91, up from $3.39 a year earlier — exceeding the high end of the company's prior guidance.
