Cadence Design Systems Third Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Cadence Design Systems (NASDAQ:CDNS) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$1.22b (up 19% from 3Q 2023).
• Net income: US$238.1m (down 6.4% from 3Q 2023).
• Profit margin: 20% (down from 25% in 3Q 2023). The decrease in margin was driven by higher expenses.
• EPS: US$0.88 (down from US$0.94 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Cadence Design Systems Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) missed analyst estimates by 2.1%.

Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in the US.

Performance of the American Software industry.

The company's shares are up 13% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. See our latest analysis on Cadence Design Systems' balance sheet health.

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