Chip design software company Synopsys, Inc.(NASDAQ:SNPS) reported an increase in revenue for the quarter ending January which led to a surge in the share prices during late trading. Stocks of the company were up 5% to $36.50 with expectations of better Q2 results as well.
While the revenue jumped up 12% to $475 million resulting to Earning per Share of 67 cents. This was far higher than projected EPS of 55 cents by various analysts. The company CEO remarked that factors like technology progress, business and customer engagements were robust during the quarter.
The company is foreseeing revenues to be $490-$500 million with EPS of 63 cents, higher than the consensus. On the other hand, Synopsis expects revenues of $1.96-1.98 billion for the year with EPS of $2.35-$2.40 per share.
Shares of the company jumped over 2%.
The buzz around the new Research In Motion Ltd(NASDAQ:BBRY?) Z10 may not be as good as the hype surrounding it has been. According to BGR, sales estimates of the new Blackberry have been lowered vis-à-vis the initial plan.
One of the analysts who had initially estimated stupendous sales of the new model has drastically cut down the estimated after the phone’s launch in Canada and U.K.
The reason for lowering the number is because the company took lot of time before rolling out the device in the market. It is difficult to comment on whether this would lead to the resurgence for the device maker who is pulling out all stops to stay in the market. Blackberry has finally beefed up the app store and this makes the new product truly impressive. The company’s move to bring in celebrities may also give a thrust. This is indicated after it appointed Alicia Keys as the Global Creative Director. All this may inject a new lease of life but only time would tell.