Cadence Design Systems (CDNS) Shares Up 3% on Q2 Earnings Beat and Raise

Cadence Design Systems (NASDAQ: CDNS) shares rose more than 3% after-hours following the company’s reported strong Q2 results, with double-digit growth across all product categories.

Q2 EPS came in at $1.08, better than the consensus estimate of $0.96. Revenue rose 18% to $858 million, compared to the consensus estimate of $834.51 million.

The company expects Q3/22 EPS in the range of $0.94-$0.98, compared to the consensus of $0.93, and revenue in the range of $860-880 million, compared to the consensus of $847.8 million.

For the full 2022-year, the company expects EPS in the range of $4.06-$4.12, compared to the consensus of $3.93, and revenue in the range of $3.47-3.51 million, compared to the consensus of $3.41 million.

By Davit Kirakosyan

You May Also Be Interested In

• Cadence Design Systems (CDNS) call put ratio 1 call to 2.9 puts
• BofA lifts price target on this major chipmaker as order book fills into 2027
• Amazon Prime Day could drive $21.6 billion in sales, boost Alexa adoption