Synopsys, Inc. (NASDAQ:SNPS) stock fell Thursday after the company reported first-quarter results.
Also, the company cut its fiscal 2026 GAAP EPS guidance below estimates and issued second-quarter sales guidance below estimates.
Earnings Snapshot
Synopsys reported adjusted EPS of $3.77 per share, which beat the Street estimate of $3.56.
Quarterly revenue came in at $2.41 billion, which exceeded the consensus estimate of $2.39 billion.
Sassine Ghazi, president and CEO of Synopsys, said, “AI continues to fuel robust system-level and semiconductor R&D, and the increasing AI capabilities throughout our portfolio strengthen our strategic advantage and accelerate our customers’ innovation.”
Buyback
In addition, Synopsys disclosed that its board of directors approved a replenishment of the existing stock repurchase program with authorization to buyback up to $2.0 billion of common shares.
Outlook
Synopsys raised fiscal 2026 adjusted EPS guidance to $14.38-$14.46 (from $14.32-$14.40 earlier) versus consensus …