Chip design software maker Synopsys (SNPS) late Wednesday delivered better-than-expected earnings on in-line sales for its fiscal first quarter. But it guided lower than views for the current quarter. SNPS stock fell in extended trading.
The Mountain View, Calif.-based company earned an adjusted $2.62 a share on sales of $1.36 billion in the quarter ended Jan. 31. Analysts polled by FactSet had expected earnings of $2.50 a share on sales of $1.36 billion. On a year-over-year basis, Synopsys earnings rose 9% while sales advanced 7%.
For the current quarter ending April 30, Synopsys predicted adjusted $2.48 a share earnings on sales of $1.375 billion. That’s based on the midpoint of its guidance. Wall Street was forecasting earnings of $2.56 a share on sales of $1.43 billion in the fiscal second quarter.
For the fiscal year ending Oct. 31, Synopsys expects to earn an adjusted $10.57 a share on sales of $5.8 billion. Analysts had been looking for earnings of $10.38 a share on sales of $5.81 billion.
SNPS Stock Is A Recent Breakout
“Synopsys delivered a solid start to the year,” Chief Executive Aart de Geus said in a news release. “Based on the continued robust design activity, we remain confident in our business.”
In after-hours trading on the stock market today, SNPS stock fell 3.7% to 365.50. During the regular session Wednesday, SNPS stock rose 0.9% to close at 379.48.
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