Cadence Design Systems (CDNS) Reports Earnings Tomorrow: What To Expect - The Chronicle-Journal
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Electronic design automation company Cadence Design Systems ( NASDAQ: CDNS ) will be reporting results this Monday afternoon. Here's what you need to know. Cadence Design Systems beat analysts' revenue expectations last quarter, reporting revenues of $1.47 billion, up 18.7% year on year. It was a strong quarter for the company, with an impressive beat of analysts' billings estimates and full-year revenue guidance slightly topping analysts' expectations. Is Cadence Design Systems a buy or sell going into earnings? Read our full analysis here, it's free for active Edge members. This quarter, the market is expecting Cadence Design Systems's revenue to grow 23.6% year on year, improving from the 20.2% increase it recorded in the same quarter last year. Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Cadence Design Systems has a history of exceeding Wall Street's expectations. Looking at Cadence Design Systems's peers in the vertical software segment, only Adobe has reported results so far. It exceeded analysts' revenue estimates, delivering year-on-year sales growth of 12.7%. The stock price was unchanged following the results. There has been positive sentiment among investors in the vertical software segment, with share prices up 3.9% on average...
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