Cadence Design Reports Q3 Earnings, Lowers FY25 EPS Guidance

Core Insights - Cadence Design Systems reported strong third-quarter earnings, with earnings per share of $1.93, surpassing the Street estimate of $1.79 [1] - The company achieved quarterly revenue of $1.38 billion, exceeding the analyst consensus estimate of $1.32 billion and showing a year-over-year increase from $1.21 billion [2] - CEO Anirudh Devgan highlighted a record backlog and broad-based business strength, raising the full-year revenue outlook to approximately 14% growth year-over-year [3] Financial Performance - The fiscal 2025 GAAP EPS guidance was lowered to a range of $3.80 to $3.86 per share, compared to the previous analyst estimate of $4.30 [4] - Revenue outlook for fiscal 2025 was raised to between $5.26 billion and $5.29 billion, against the prior estimate of $5.24 billion [4] Market Reaction - Following the earnings report, Cadence Design Systems stock was down 1.11% at $347.50 in extended trading [5]