Investing.com - Synopsys (NASDAQ:SNPS) reported on Wednesday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Synopsys announced earnings per share of $1.22 on revenue of $861.3M (NYSE:MMM). Analysts polled by Investing.com anticipated EPS of $0.98 on revenue of $836.56M. That with comparison to EPS of $1.16 on revenue of $836.24M in the same period a year before.Synopsys had reported EPS of $1.01 on revenue of $834.38M in the previous quarter.Analysts are expecting EPS of $1.47 and revenue of $945.18M in the upcoming quarter.
Synopsys shares are up 18.99% from the beginning of the year and are trading at $165.48 , down-from-52-week-high.They are outperforming the Nasdaq which is up 3.72% year to date.
Synopsys shares lost 0.10% in after-hours trade the report.
Synopsys follows other major Technology sector earnings this month
Synopsys's report follows an earnings beat by Microsoft on Wednesday, April 29, 2020, who reported EPS of $1.4 on revenue of $35.02B, compared to forecasts EPS of $1.27 on revenue of $33.66B.
Apple had beat expectations on Thursday, April 30, 2020 with second quarter EPS of $2.55 on revenue of $58.31B, compared to forecast for EPS of $2.24 on revenue of $54.78B.
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