Feb 26 (Reuters) - Synopsys ( SNPS ) forecast
second-quarter revenue above Wall Street estimates on Wednesday,
boosted by growing demand for its software used in designing
chips.
Companies such as Amazon ( AMZN ), Google and Apple are
investing in designing their own chips, as are carmakers and
other businesses, helping drive demand for Synopsys' ( SNPS ) software.
The company sees second-quarter revenue between $1.59
billion and $1.62 billion, the midpoint of which is slightly
above analysts' estimates of $1.60 billion, according to data
compiled by LSEG.
On an adjusted basis, the company sees per-share earnings to
be between $3.37 and $3.42 for the second quarter, compared with
analysts' estimates of $3.35.
Synopsys ( SNPS ), which partners with chip companies such as Nvidia ( NVDA )
, Qualcomm ( QCOM ) and Intel ( INTC ), provides
software and hardware used for designing advanced processors.
Semiconductor firms also use Synopsys' ( SNPS ) AI-powered electronic
design automation suite, Synopsys.ai, to improve complex chip
designs.
Revenue from the company's design automation unit - its
largest segment, which includes digital and custom integrated
circuit design software - was $1.02 billion in the first
quarter.
Synopsys ( SNPS ) posted revenue of $1.46 billion, slightly below
analysts' estimates of $1.47 billion for the first quarter.