Synopsys Stock Hits Record High on AI Boom, Earnings Beat

Contact Us
Mary Lee
120 Pottinger Street
Hong Kong 999077 

Shares of Synopsys Inc. (SNPS) reached an all-time high on Thursday, after the software firm’s announcement of profits and forecast for the first quarter that were better than anticipated. The business cited an increase in demand for artificial intelligence technology as the reason for the increase.

After the bell rang on Wednesday, the company that makes software for semiconductor design stated that it had adjusted profits per share (EPS) of $3.56, which was more than what analysts had anticipated.

In the first quarter of its fiscal year, which ended in January, the company’s revenue reached $1.65 billion, representing a year-on-year rise of around 21%.

The company, which is headquartered in Sunnyvale, California, forecasts that its adjusted earnings per share for the current quarter will fall somewhere between $3.09 and $3.14.

The president and chief executive officer of Synopsys, Sassine Ghazi, said that artificial intelligence (AI) continues to “drive our customers’ investments in silicon and systems that position them for future growth.”

A month ago, Synopsys made the announcement that it will be purchasing the simulation software company Ansys (ANSS) for a total of $35 billion.

Nvidia (NVDA) and Intel (INTC) are two of Synopsys’ customers. Synopsys is a software development company that creates software for engineers to use in the process of building and testing silicon semiconductors.3)

The share price of Synopsys went up 7% to $581.26 at 2:03 p.m. Eastern Time on Thursday. After a year, they have increased by more than sixty percent.

A diverse range of clientele, including people, governments, enterprises, and financial institutions, are served by Castwell Investment Limited’s extensive financial service offerings. Investment management, banking, securities, and investing are all part of these services.

In addition, you may visit our website, Castwell Investment Limited, at Please enable us to give you with any more information that you need.