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Cadence Design Systems Q2 adjusted earnings Beat Estimates

(RTTNews) - Cadence Design Systems (CDNS) announced earnings for its second quarter that increased from the same period last year.

The company's earnings came in at $131.29 million, or $0.47 per share. This compares with $107.24 million, or $0.38 per share, in last year's second quarter.

Excluding items, Cadence Design Systems reported adjusted earnings of $184.61 million or $0.66 per share for the period.

Analysts had expected the company to earn $0.52 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 10.0% to $638.42 million from $580.42 million last year.

Cadence Design Systems earnings at a glance:

-Earnings (Q2): $184.61 Mln. vs. $161.10 Mln. last year. -EPS (Q2): $0.66 vs. $0.57 last year. -Analysts Estimate: $0.52 -Revenue (Q2): $638.42 Mln vs. $580.42 Mln last year.

-Guidance: Next quarter EPS guidance: $0.59 to $0.61 Next quarter revenue guidance: $630 - $650 Mln Full year EPS guidance: $2.50 to $2.56 Full year revenue guidance: $2.585 - $2.615 Bln

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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