U.S. Stocks Alert: Synopsys falls over 7% as Q2 adjusted earnings per share decline year-on-year

Glonghui, May 28｜Leading company in chip automation design (EDA), Synopsys (SNPS.US), dropped over 7%, hitting a low of $487. According to reports, Synopsys’ revenue for the second fiscal quarter increased 42.5% year-on-year to $2.28 billion, surpassing analysts’ expectations of $2.25 billion; adjusted earnings per share were $3.35, down from $3.67 in the same period last year. During the period, design automation revenue surged by 62% year-on-year to $1.62 billion, while design IP revenue fell by 5.8% to $439.5 million. (Glonghui)