Cadence Design Reports Q3 Earnings

Investing.com – Cadence Design (NASDAQ: CDNS) reported third quarter EPS of $1.64, exceeding the analyst estimate of $1.44 by $0.20. Revenue for the quarter totaled $1.22B, surpassing the consensus estimate of $1.18B.

Guidance

Cadence Design forecasts FY 2024 EPS between $5.87 and $5.93, compared to the analyst consensus of $5.89. The company also expects FY 2024 revenue to be between $4.61B and $4.65B, against an analyst consensus of $4.63B.

Cadence Design's stock closed at $252.77. It has decreased by 3.08% over the last three months but has gained 9.49% over the past twelve months.

In the last 90 days, Cadence Design received 0 positive EPS revisions and 11 negative EPS revisions. Review Cadence Design's stock price reactions to earnings here.

According to InvestingPro, Cadence Design's Financial Health score indicates "good performance".

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