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Feb. 19, 2020, 4:58 p.m. EST

Synopsys tops Wall Street targets for fiscal Q1

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By Micah Maidenberg

Synopsys Inc., a company that specializes in developing software engineers use in testing semiconductor chips and other products, said profit, on a GAAP basis, fell in its latest quarter.

Mountain View, Calif.-based Synopsys reported earnings of $104.6 million, or 67 cents a share, down from $153.5 million, or $1.01 a share, the year earlier.

Excluding share-based compensation and after other adjustments, the company's profit of $1.01 a share was 9 cents more than forecasts from analysts polled by FactSet.

Synopsys generated $834.4 million in sales in its quarter that ended Jan. 31, versus $820.4 million in the comparable period a year earlier. Analysts had predicted $822 million for the latest period.

Write to Micah Maidenberg at micah.maidenberg@wsj.com

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