Cadence (CDNS) Q2 Earnings & Revenues Top Estimates, Up Y/Y

Cadence Design Systems (CDNS) reported second-quarter 2024 non-GAAP earnings per share (EPS) of $1.28, which beat the Zacks Consensus Estimate by 4.1%. The bottom-line number improved 4.9% year over year and exceeded the management’s guided range of$ 1.20- $1.24.Revenues of$ 1.061 billion topped the Zacks Consensus Estimate by 1.2% and increased 8.6% on a year-over-year basis. It surpassed the management’s guided range of $1.03-$ 1.05 billion.The top line was driven by broad-based customer demand. CDNS ended ...