SUNNYVALE, Calif. (AP) — SUNNYVALE, Calif. (AP) — Synopsys Inc. (SNPS) on Tuesday reported fiscal third-quarter earnings of $242.5 million.
On a per-share basis, the Sunnyvale, California-based company said it had profit of $1.50. Earnings, adjusted for stock option expense and costs related to mergers and acquisitions, came to $3.39 per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $3.84 per share.
The maker of software used to test and develop chips posted revenue of $1.74 billion in the period, which also did not meet Street forecasts. Six analysts surveyed by Zacks expected $1.77 billion.
For the current quarter ending in October, Synopsys expects its per-share earnings to range from $2.76 to $2.80.
The company said it expects revenue in the range of $2.23 billion to $2.26 billion for the fiscal fourth quarter.
Synopsys expects full-year earnings in the range of $12.76 to $12.80 per share, with revenue ranging from $7.03 billion to $7.06 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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