Synopsys Announces Strong Q3 Results and Outlook for 2024 Fiscal Year

TapTechNews August 22nd news, the EDA leading enterprise and IP supplier Synopsys announced the performance of the third fiscal quarter of the 2024 fiscal year ending August 3, 2024, local time yesterday.

Synopsys achieved revenue of 1.526 billion US dollars (TapTechNews note: currently about 10.884 billion yuan) in the previous fiscal quarter, while increasing by about 13% compared to the same period last year, it also set a new quarterly revenue record.

Calculated according to GAAP, Synopsys' net income in the third fiscal quarter was 425.9 million US dollars, a significant increase of about 27% year-on-year, and the net profit margin was 27.9%.

Synopsys divides its business into two departments: design automation and design IP. Among them, the revenue of the design automation department in the third fiscal quarter was 1.0626 billion US dollars, accounting for 69.6% of the overall revenue; while the revenue of the design IP department was 463.1 million US dollars, accounting for 30.4%.

Synopsys expects that in the 2024 fiscal year ending November 2, 2024 the overall revenue will fall in the range of 6.105 billion to 6.135 billion US dollars (currently about 43.544 billion to 43.758 billion yuan).

Synopsys President and CEO Sassine Ghazi said:

Our strong third-quarter results and record full-year expectations continue to prove the resilience of the Synopsys business.

In this era of ubiquitous intelligence, as chip and system companies compete to leverage artificial intelligence, the complexity and speed of technological innovation are also accelerating.

Synopsys is crucial to technological innovation, and as more and more companies in various industries define and optimize system performance at the silicon level, our customer base is also expanding.