SUNNYVALE, Calif. (AP) — SUNNYVALE, Calif. (AP) — Synopsys Inc. (SNPS) on Wednesday reported fiscal second-quarter profit of $292.1 million.
On a per-share basis, the Sunnyvale, California-based company said it had net income of $1.88. Earnings, adjusted for one-time gains and costs, were $3 per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $3.03 per share.
The maker of software used to test and develop chips posted revenue of $1.45 billion in the period, also missing Street forecasts. Six analysts surveyed by Zacks expected $1.51 billion.
For the current quarter ending in July, Synopsys expects its per-share earnings to range from $3.25 to $3.30.
The company said it expects revenue in the range of $1.51 billion to $1.54 billion for the fiscal third quarter.
Synopsys expects full-year earnings in the range of $12.90 to $12.98 per share, with revenue ranging from $6.09 billion to $6.15 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SNPS at https://www.zacks.com/ap/SNPS
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