Cadence Design Sys Q3 EPS $1.26 Beats $1.20 Estimate, Sales $1.02B Beat $1.00B Estimate
Portfolio Pulse from Benzinga Newsdesk
Cadence Design Sys (NASDAQ:CDNS) reported Q3 earnings of $1.26 per share, beating the analyst consensus estimate of $1.20 by 5%. This is an 18.87% increase from the same period last year. The company also reported quarterly sales of $1.02 billion, beating the analyst consensus estimate of $1.00 billion by 2.30%. This is a 13.35% increase from the same period last year.
October 23, 2023 | 8:05 pm
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POSITIVE IMPACT
Cadence Design Sys reported better than expected Q3 earnings and sales, which could positively impact its stock price.
Companies that report earnings and sales above analyst estimates typically see a positive reaction in their stock price as this indicates better than expected performance.
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