5 Must-Watch Earnings Reports

4. Synopsys, Inc. (NASDAQ: SNPS)

Number of Hedge Fund Holders: 41

Synopsys, Inc. (NASDAQ: SNPS) shares hit a new 52-week high of $325.08 after announcing better-than-expected results for the fiscal third quarter. The company reported earnings of $1.27 per share, down from $1.62 per share in the year-ago quarter. However, the adjusted earnings came in at $1.81 per share, up from $1.74 per share in the same period last year.

Total revenue for the quarter climbed 96 percent on a year-over-year basis to $1.06 billion. The results surpassed analysts’ average estimate of $1.78 per share for earnings and $1.04 billion for revenue.

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Synopsys also released its financial guidance for the fourth quarter and a full year. The company expects adjusted earnings in the range of $1.75-$1.80 per share on revenue of $1.14 billion $1.17 billion for the current quarter. In addition, it expects adjusted earnings in the range of $6.78-$6.83 per share and revenue between $4.19 billion $4.22 billion for the full year.