Synopsys Inc. (SNPS) will release its Q3 fiscal 2024 outcomes on August 21, following market close. Investors will closely monitor how the actual result comes where the upbeat result might find a relief above the 100 day SMA line.
SNPS Earnings Forecast
For the Q3 of its fiscal year, the company expects revenues to range from $1.51 billion to $1.54 billion. The analysts' Consensus estimate, set at $1.53 billion, indicates a 2.6% increase over the reported amount for last year. Also, the non-GAAP revenue per share could range from $3.25 to $3.30.
Synopsys' third-quarter earnings are expected to demonstrate the increasing product demand.
Demand for Synopsys' cutting-edge solutions in the third quarter is probably due to the growing applications of artificial intelligence (AI), the Internet of Things (IoT), 5G, high-speed computing, cloud services, and the automotive industry. This demand is predicted to be significantly fueled by the Fusion Compiler's substantial expansion, driven by major agreements in the 5G, AI, and server chip sectors.
