earnings
confidence high
sentiment positive
materiality 0.80
Cadence Q3 revenue $903M (+20% YoY); GAAP EPS $0.68, non-GAAP EPS $1.06; raises FY22 outlook
CADENCE DESIGN SYSTEMS INC
2022-Q3 EPS reported
$2.21
revenue$2,661,841,000
- Q3 GAAP net income $186M ($0.68 diluted EPS) vs $176M ($0.63) YoY; non-GAAP net income $290M ($1.06).
- Q3 revenue $903M vs $751M YoY; GAAP operating margin 29%, non-GAAP 39%.
- FY22 revenue guidance raised to $3.532-3.552B; non-GAAP EPS raised to $4.20-4.24.
- OpenEye acquisition closed Aug 31; FY22 outlook includes latest China export controls.
- Expects $300M share repurchase in Q4; operating cash flow YTD $979M.