By Connor Hart
Synopsys pulled its outlook for the current quarter and fiscal year as it works to assess the potential effects of new Chinese export restrictions on its business.
The move came Thursday after the chip software maker said it received a letter earlier in the day from the Bureau of Industry and Security of the Commerce Department informing the company of new limits on exports to China.
Synopsys withdrew its outlook the July-ending quarter, disclosed after Wednesday's market close, which called for adjusted per-share earnings of $3.82 to $3.87 on sales of $1.76 billion to $1.79 billion.
The company additionally pulled its forecast for fiscal 2025, ending Oct. 31, which projected adjusted per-share earnings of $15.11 to $15.19, as well as sales of $6.75 billion to $6.81 billion.
Synopsys isn't the only tech company affected by Washington's new limits on chip sales in China. Nvidia on Wednesday said it has been effectively shut out of China's market for advanced artificial-intelligence chips, noting it was unable to ship $2.5 billion of its H20 processors during its latest quarter. The chipmaker additionally projected $8 billion in lost revenue for the current quarter due to the policy.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
May 29, 2025 13:58 ET (17:58 GMT)
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