Cadence Sees Q3 Adj. EPS $1.39-$1.49 vs $1.60 Est., Revenue $1.165B-$1.195B vs $1.19B Est.; Sees FY24 Adj. EPS $5.77-$5.97 vs $5.93 Est., Revenue $4.6B-$4.66B vs $4.6B Est.
Portfolio Pulse from Benzinga Newsdesk
Cadence Design Systems (CDNS) has provided its Q3 and FY24 financial guidance. For Q3, the company expects adjusted EPS between $1.39 and $1.49, below the estimated $1.60, and revenue between $1.165 billion and $1.195 billion, slightly below the estimated $1.19 billion. For FY24, Cadence forecasts adjusted EPS between $5.77 and $5.97, close to the estimated $5.93, and revenue between $4.6 billion and $4.66 billion, in line with the estimated $4.6 billion.

July 22, 2024 | 8:04 pm
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Cadence Design Systems' Q3 guidance falls short of analyst expectations for both EPS and revenue, which may negatively impact the stock in the short term. However, the FY24 guidance aligns closely with estimates, providing some reassurance to investors.
The Q3 guidance provided by Cadence Design Systems is below analyst expectations for both EPS and revenue, which is likely to result in a negative short-term impact on the stock price. However, the FY24 guidance is close to estimates, which may mitigate some of the negative sentiment.
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IMPORTANCE 80
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