Cadence Design Systems (CDNS) Tops Q4 EPS by 4c, provides guidance

Cadence Design Systems (NASDAQ: CDNS) reported Q4 EPS of $1.38, $0.04 better than the analyst estimate of $1.34. Revenue for the quarter came in at $1.07 billion versus the consensus estimate of $1.06 billion.

GUIDANCE:

Cadence Design Systems sees FY 2024 EPS of $5.87-$5.97, versus the consensus of $5.89. Cadence Design Systems sees FY 2024 revenue of $4.55-4.61 billion, versus the consensus of $4.583 billion.

GAAP operating margin in the range of 32% to 33%
Non-GAAP operating margin in the range of 42% to 43%
GAAP diluted net income per share in the range of $4.08 to $4.18

For the first quarter of 2024, the company expects:

Revenue in the range of $990 million to $1.01 billion
GAAP operating margin in the range of 24.5% to 25.5%
Non-GAAP operating margin in the range of 36.5% to 37.5%
GAAP diluted net income per share in the range of $0.74 to $0.78
Non-GAAP diluted net income per share in the range of $1.10 to $1.14

For earnings history and earnings-related data on Cadence Design Systems (CDNS) click here.

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