Synopsys revenue forecast beats estimates on AI chip boom, shares up

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Synopsys on Wednesday forecast second-quarter revenue above Wall Street estimates, citing growing demand for its software used in designing chips. The company’s shares rose 2.45% to $482 in after-hours trading after the results were released.

Companies such as Amazon, Google and Apple are investing in designing their own chips, as are carmakers and other businesses, helping drive demand for Synopsys’ software.

The company sees second-quarter revenue between $1.59 billion and $1.62 billion, the midpoint of which is slightly above analysts’ estimates…



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Synopsys revenue forecast beats estimates on AI chip boom, shares up


Synopsys on Wednesday forecast second-quarter revenue above Wall Street estimates, citing growing demand for its software used in designing chips. The company’s shares rose 2.45% to $482 in after-hours trading after the results were released.

Companies such as Amazon, Google and Apple are investing in designing their own chips, as are carmakers and other businesses, helping drive demand for Synopsys’ software.

The company sees second-quarter revenue between $1.59 billion and $1.62 billion, the midpoint of which is slightly above analysts’ estimates…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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