Cadence Design Sys Q1 2024 Adj EPS $1.17 Beats $1.13 Estimate, Sales $1.009B Beat $1.002B Estimate
Portfolio Pulse from Benzinga Newsdesk
Cadence Design Systems (CDNS) reported Q1 2024 adjusted EPS of $1.17, surpassing the $1.13 estimate, with sales of $1.009B also beating the $1.002B estimate. This represents a slight decrease of 1.27% in sales compared to the same period last year.
April 22, 2024 | 8:03 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Cadence Design Systems reported higher than expected Q1 2024 earnings and sales, with a slight year-over-year decrease in sales.
Beating both EPS and sales estimates typically has a positive impact on stock price in the short term. The slight decrease in year-over-year sales might temper the positive reaction, but the overall beat on expectations is likely to be viewed favorably by investors.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100