Synopsys reported fiscal third-quarter revenue of $2.477 billion, up from $1.740 billion a year earlier, and non-GAAP diluted EPS of $3.91, exceeding its prior guidance. The company also raised its full-year revenue target to a range of $9.690 billion to $9.740 billion and non-GAAP EPS guidance to $15.04 to $15.10. Despite the strong results, shares dropped 4% in after-hours trading on Wednesday. President and CEO Sassine Ghazi attributed the demand to artificial intelligence.