Cadence Design Earnings, Revenue Beat in Q2
2022.07.25 23:31
Cadence Design Earnings, Revenue Beat in Q2
Investing.com – Cadence Design (NASDAQ:CDNS) reported on Monday second quarter earnings that beat analysts’ forecasts and revenue that topped expectations.
Cadence Design announced earnings per share of $1.08 on revenue of $857.52M. Analysts polled by Investing.com anticipated EPS of $0.9645 on revenue of $834.51M.
Cadence Design shares are down 10% from the beginning of the year, still down 12.99% from its 52 week high of $192.70 set on December 28, 2021. They are outperforming the S&P 500 which is down 16.78% from the start of the year.
Cadence Design shares gained 3.18% in after-hours trade following the report.
Cadence Design follows other major Information Technology sector earnings this month
Cadence Design’s report follows an earnings beat by Taiwan Semiconductor on July 14, who reported EPS of $1.53 on revenue of $17.87B, compared to forecasts EPS of $1.44 on revenue of $17.68B.
ASML ADR had beat expectations on Wednesday with second quarter EPS of $3.62 on revenue of $5.55B, compared to forecast for EPS of $3.61 on revenue of $5.56B.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar
