Stock Market

Cadence Design exceeds earnings by $0.04, surpasses revenue estimates.

Cadence Design Reports Strong Fourth Quarter Earnings

Financial Performance

Cadence Design (NASDAQ: ) reported fourth quarter EPS of $1.38, surpassing the analyst estimate by $0.04. The company’s revenue for the quarter exceeded expectations, totaling $1.07 billion, compared to the consensus estimate of $1.06 billion.

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Guidance for Q1 2024

The company’s outlook for the first quarter of 2024 is optimistic, with projected EPS in the range of $5.87 to $5.97, compared to the analyst consensus of $5.89. Additionally, Cadence Design anticipates revenue in the range of $4.55 billion to $4.61 billion, surpassing the analyst consensus of $4.58 billion.

Stock Performance

Cadence Design’s stock price closed at $306.58, marking a significant increase of 14.83% over the last 3 months and an impressive surge of 65.09% over the past 12 months.

Earnings Revisions and Financial Health

The company experienced 9 positive EPS revisions and 0 negative EPS revisions in the last 90 days. According to InvestingPro, Cadence Design’s Financial Health score indicates “great performance.” To delve deeper into the company’s financials, readers can explore Cadence Design’s stock price reactions to earnings.

Insight and Resources

InvestingPro offers a comprehensive analysis of Cadence Design’s Financial Health and financials, providing valuable insights for investors. To stay informed about upcoming earnings reports, readers can reference Investing.com’s earnings calendar.

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