earnings
confidence high
sentiment positive
materiality 0.75
Cadence Q2 revenue $1.061B, GAAP EPS $0.84; raises FY2024 revenue outlook to $4.60-4.66B
CADENCE DESIGN SYSTEMS INC
2024-Q2 EPS reported
$1.74
revenue$2,069,784,000
- Q2 revenue $1.061B, up 8.6% YoY; GAAP EPS $0.84, non-GAAP EPS $1.28.
- Backlog remains at $6.0 billion; cRPO $3.1 billion.
- FY2024 revenue outlook raised to $4.60-$4.66B (13% YoY); GAAP EPS $3.82-$4.02, non-GAAP EPS $5.77-$5.97.
- Q3 guidance: revenue $1.165-$1.195B, non-GAAP EPS $1.39-$1.49.
- Closed BETA CAE acquisition to enhance multiphysics platform.