Summary Synopsys shares surge after stronger fiscal 2027 forecasts, a $1 billion buyback plan and new OpenAI and AWS deals.
NEW YORK (Reuters) - Synopsys shares jumped 10% on Thursday after the chip-design software maker forecast fiscal 2027 revenue and profit above analysts’ estimates and announced deals with OpenAI and Amazon Web Services.
Synopsys forecast fiscal 2027 revenue of $11.10 billion to $11.20 billion, above analysts’ average estimate of $10.81 billion, while adjusted earnings per share of $19.04 to $19.12 also topped the $17.81 estimate.
The company plans to buy back about $1 billion of shares and targets roughly 15% compound annual revenue growth from fiscal 2026 through 2030, with an adjusted operating margin of about 50% by fiscal 2030.
