Synopsys, Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Synopsys, Inc. (SNPS) announced earnings for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $449.11 million, or $2.89 per share. This compares with $271.54 million, or $1.75 per share, in last year's first quarter.

Excluding items, Synopsys, Inc. reported adjusted earnings of $553.67 million or $3.56 per share for the period.

Analysts on average had expected the company to earn $3.43 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 21.3% to $1.65 billion from $1.36 billion last year.

Synopsys, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $449.11 Mln. vs. $271.54 Mln. last year. -EPS (Q1): $2.89 vs. $1.75 last year. -Analyst Estimate: $3.43 -Revenue (Q1): $1.65 Bln vs. $1.36 Bln last year.

-Guidance: Next quarter EPS guidance: $2.05 - $2.16 Next quarter revenue guidance: $1560 - $1590 Mln Full year EPS guidance: $9.56 - $9.74 Full year revenue guidance: $6,570 - $6,630 Mln