Why Synopsys Stock Popped Today
Don't be fooled by earnings. Synopsys just generated 3x more cash profit than it claimed.
Overview
Synopsys (NASDAQ: SNPS) stock, which makes design and simulation software for pre-production work on semiconductors, soared 10.2% through 11 a.m. ET Thursday after beating analyst forecasts for fiscal Q3 sales and earnings last night.
Heading into the report, Wall Street had Synopsys pegged for $3.67 per share in pro forma profit on sales of just over $2.4 billion. Synopsys actually earned $3.91 per share on sales just under $2.5 billion.
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Details
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.