Investing.com – Cadence Design (NASDAQ 🙂 reported on Tuesday fourth quarter that beat analysts’ forecasts and revenue that topped expectations.
Cadence Design announced earnings per share of $ 0.82 on revenue of $ 773.04M. Analysts polled by Investing.com anticipated EPS of $ 0.7804 on revenue of $ 757.37M.
Cadence Design shares are down 27% from the beginning of the year, still down 29.83% from its 52 week high of $ 192.70 set on December 28, 2021. They are under-performing the S&P 500 which is down 9.66% from the start of the year.
Cadence Design shares gained 2.80% in after-hours trade following the report.
Cadence Design follows other major Information Technology sector earnings this month
Cadence Design’s report follows an earnings beat by Apple on January 27, which reported EPS of $ 2.1 on revenue of $ 123.95B, compared to forecasts EPS of $ 1.9 on revenue of $ 119B.
Microsoft had beat expectations on January 25 with second quarter EPS of $ 2.48 on revenue of $ 51.73B, compared to forecast for EPS of $ 2.32 on revenue of $ 50.74B.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar
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