Cadence beats Q3 estimates, raises FY2023 guidance on strong design activity

CADENCE DESIGN SYSTEMS INC

2023-Q3 EPS reported $2.63 revenue$3,021,363,000

Q3 revenue $1.023B (+13% YoY), non-GAAP EPS $1.26 vs $1.06 YoY; GAAP EPS $0.93.
FY2023 revenue outlook raised to $4.06-$4.10B; non-GAAP EPS raised to $5.07-$5.13.
Q3 non-GAAP operating margin 41.1% (up from 39.4% YoY); FY midpoint raised to 41.75%.
Q4 guidance: revenue $1.039-$1.079B, non-GAAP EPS $1.30-$1.36.
CEO cites AI, HPC, autonomous driving as growth drivers; operating cash flow $396M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.99

CADENCE DESIGN SYSTEMS INC reported the third quarter of 2023 results: revenue $1.023 billion, net income $254 million, EPS $0.93 per share on a diluted basis. Guidance raised.

Period: the third quarter of 2023
Revenue: $1.023 billion
Net income: $254 million
EPS: $0.93 per share on a diluted basis
Guidance: raised
Result: reported results

Exact text from the filing

Cadence reported third quarter 2023 revenue of $1.023 billion

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13 earnings releases filed in the last 30 days. Browse all earnings releases →

CADENCE DESIGN SYSTEMS INC filing history →

Source: SEC EDGAR

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