Cadence Design Systems Shares up 3% on Q2 Earnings Beat and Raise

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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.