How Should You Play Cadence (CDNS) Stock Post Q2 Earnings?

Cadence Design Systems (CDNS) reported better than expected second-quarter 2024 results, driven by broad-based customer demand. Revenues of $1.061 billion increased 8.6%, while non-GAAP earnings per share (EPS) of $1.28 improved 4.9% on a year-over-year basis. The top and the bottom line also exceeded management’s guidance.However, the company provided lower-than-expected guidance for the third quarter of 2024. It narrowed the guidance for 2024 EPS owing to the dilutive impact of the BETA CAE acquisition.Ke ...