Cadence Design Sys Q2 Adj $1.22 Beats $1.18 Estimate, Sales $976.58M Beat $974.86M Estimate
Portfolio Pulse from Benzinga Newsdesk
Cadence Design Sys (NASDAQ:CDNS) reported Q2 earnings of $1.22 per share, beating the analyst consensus estimate of $1.18 by 3.39%. This is a 12.96% increase from the same period last year. The company also reported quarterly sales of $976.58 million, beating the analyst consensus estimate of $974.86 million by 0.18%. This is a 13.88% increase from the same period last year.
July 24, 2023 | 8:12 pm
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POSITIVE IMPACT
Cadence Design Sys beat Q2 earnings and sales estimates, which could lead to a positive short-term impact on the stock.
Cadence Design Sys reported better than expected Q2 earnings and sales. This positive financial performance could increase investor confidence and drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100