Key Takeaways
Synopsys ( SNPS ) shares tumbled after the chip design software maker posted a disappointing forecast for its coming fiscal year late Wednesday.
The company called for full-year revenue of $6.75 billion to $6.81 billion, below the analyst consensus of roughly $6.9 billion from Visible Alpha. Its earnings per share (EPS) projection of $10.42 to $10.63 was well short of the roughly $11.20 consensus.
Synopsys stock led all S&P 500 components lower Thursday, falling more than 10% intraday. The drop has Synopsys roughly flat for the year so far.
In the fiscal fourth quarter, Synopsys reported revenue of $1.64 billion, up 11% year-over-year and slightly above expectations. EPS was $7.14, up from $2.26 a year earlier and above the analysts consensus.
The company said its planned $35 billion acquisition of simulation software company Ansys ( ANSS ) is expected to close in the first half of 2025. Shares of Ansys were recently down about 5%.
Read the original article on Investopedia