By Kailyn Rhone

Shares of Synopsys declined after posting an outlook for the current fiscal year and the first quarter that missed analysts' estimates.

The stock retreated 6% to $550.53 in after-hours trading Wednesday. For the year shares are up 14%.

The provider of electronic design automation software guided for first-quarter revenue of $1.44 billion to $1.47 billion, missing the $1.64 billion expected by analysts, according to FactSet. It also expects earnings per-share of $1.81 to $1.95, falling short of the $2.66 analysts anticipated.

The company guided for double-digit revenue growth of $6.75 billion to $6.81 billion for fiscal 2025. That was below the $6.9 billion analysts polled by FactSet expected. It also estimated earnings per-share of $10.42 to $10.63 for the year, below the $10.77 forecast of analysts.

Synopsys previously said its acquisition of the software company Ansys is expected to close in the first half. The company said this week marked the expiration of the waiting period, and that it's working with Federal Trade Commission to conclude the investigation and a staff review of the company's proposed remedies.

Write to Kailyn Rhone at kailyn.rhone@wsj.com


(END) Dow Jones Newswires

12-04-24 1840ET