Cadence Design Systems Sees 2H Revenue $2.052B-$2.092B; EPS $2.54-$2.60; Sees FY23 Revenue $4.05B-$4.09B Vs $4.05B Est.; EPS $5.05-$5.11 Vs $5.03 Est.
Portfolio Pulse from Happy Mohamed
Cadence Design Systems has provided its business outlook for the second half of 2023 and the full fiscal year 2023. The company expects 2H 2023 revenue to be between $2.052 billion and $2.092 billion, with EPS between $2.54 and $2.60. For FY23, revenue is projected to be between $4.05 billion and $4.09 billion, with EPS between $5.05 and $5.11. These projections are based on a long-term non-GAAP tax rate, which may be subject to change due to various factors.
July 24, 2023 | 8:14 pm
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POSITIVE IMPACT
Cadence Design Systems has provided positive revenue and EPS guidance for 2H 2023 and FY23. This could potentially lead to an increase in the company's stock price in the short term.
The company's projected revenue and EPS for 2H 2023 and FY23 are higher than current estimates. This positive guidance could lead to increased investor confidence and a potential increase in the company's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100