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Synopsys reports Q3 earnings and revenue below forecasts, stock drops despite long-term growth optimism.
Synopsys, a chip design software company, reported third-quarter earnings below Wall Street forecasts, with a revenue of $1.74 billion and adjusted earnings of $3.39 per share.
The company missed revenue and earnings targets due to underperformance in its IP business, impacted by new export restrictions in China and challenges with a major foundry customer.
Despite the shortfall, Synopsys remains optimistic about its long-term growth with the recent acquisition of Ansys and expects a record revenue year.
The company's stock fell after the report.
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Synopsys informa ganancias e ingresos del tercer trimestre por debajo de las previsiones, las acciones caen a pesar del optimismo de crecimiento a largo plazo.