Synopsys Earnings Match Estimates, Sales Beat In Fiscal Fourth Quarter
Summary
Chip-design software maker Synopsys ( SNPS ) late Wednesday met Wall Streets estimates for earnings in its fiscal fourth quarter while sales beat views.XThe Mountain View, Calif.-based company earned an adjusted 78 cents a share on sales of $795.1 million in the quarter ended Oct. 31.Wall Street was modeling for Synopsys earnings of 99 cents a share on sales of $803.2 million in its fiscal first quarter."Notwithstanding expectations of more-modest semiconductor industry growth in 2019, design activity across the Silicon-to-Software spectrum continues unabated," Aart de Geus, chairman and co-chief executive of Synopsys, said in a news release .He added, "Over the past five years weve made significant investments in developing next-generation EDA (electronic design automation) platforms, elevating the impact of our IP (intellectual property) portfolio, and diversifying into an exciting new software security and quality market.
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