Synopsys forecasts quarterly revenue above expectations

Synopsys on Wednesday projected second-quarter revenue above investor expectations, even as the chip design software maker navigates export restrictions in China and ‌broader economic ⁠uncertainty.

Shares ⁠fell more than 5% in extended hours trading.

The company has faced a slowdown in China as export restrictions have prevented customers from starting new chip design projects, alongside weaker-than-expected demand from a major foundry customer.