Cadence Design Earnings Beat Expectations at $0.20, Profit Surpasses Forecasts

According to Cadence Design's report, the earnings per share for the third quarter was $1.64, which is $0.20 better than analysts' expectations of $1.44. The reported earnings for this quarter were determined to be $1.22 billion, compared to analyst expectations of $1.18 billion.

Guidance for Cadence Design's fiscal year 2024 estimates earnings per share to be between $5.87 and $5.93, while analysts had estimated it to be $5.89. The company's fiscal year 2024 revenue is projected to be between $4.61 billion and $4.65 billion, with analyst estimates at $4.63 billion.

Cadence Design's stock closed the day at $252.77, reflecting a decrease of 3.08% over the past three months. Over the last 12 months, the stock has gained 9.49%. In the last 90 days, Cadence Design saw 0 positive earnings per share while experiencing 11 negative earnings per share.

You can examine how Cadence Design's stock price reacted to previous earnings reports here. According to InvestingPro, the company's financial health score is rated as "Quite Good."

You can review the latest earnings reports and the company's complete financial information here. Stay updated on all developments related to balance sheets by visiting the Investing.com Earnings Calendar.