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Synopsys Fiscal Q3 Non-GAAP Earnings, Revenue Rise; Shares Drop After Hours

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Synopsys (SNPS) reported fiscal Q3 non-GAAP earnings late Wednesday of $3.91 per diluted share, up from $3.39 a year earlier.

Analysts polled by FactSet expected $3.67.

Revenue in the three months ended July 31 rose to $2.48 billion from $1.74 billion a year earlier.

Analysts projected $2.44 billion.

The company expects fiscal Q4 non-GAAP EPS of $4.10 to $4.16 on revenue of $2.53 billion to $2.58 billion. Analysts project EPS of $4 on revenue of $2.55 billion.

Synopsys boosted full-year guidance to non-GAAP EPS of $15.04 to $15.10 on revenue of $9.69 billion to $9.74 billion, up from the prior forecast of EPS of $14.72 to $14.80 on revenue of $9.625 billion to $9.705 billion.

Analysts project EPS of $14.78 on revenue of $9.68 billion.

Synopsys shares fell 6.7% in after-hours trading.

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