Investing.com - Cadence Design (NASDAQ:CDNS) reported on Wednesday fourth quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Cadence Design announced earnings per share of $0.54 on revenue of $599.6M. Analysts polled by Investing.com anticipated EPS of $0.53 on revenue of $595.75M. That with comparison to EPS of $0.52 on revenue of $569.85M in the same period a year before.Cadence Design had reported EPS of $0.54 on revenue of $579.6M in the previous quarter.Analysts are expecting EPS of $0.57 and revenue of $608.16M in the upcoming quarter.
Cadence Design shares are up 11.27% from the beginning of the year and are trading at $80.25 , down-from-52-week-high.They are outperforming the S&P 500 which is up 4.14% year to date.
Cadence Design shares gained 3.98% in after-hours trade the report.
Cadence Design follows other major Technology sector earnings this month
Cadence Design's report follows an earnings beat by Apple on January 28, who reported EPS of $4.99 on revenue of $91.82B, compared to forecasts EPS of $4.54 on revenue of $88.51B.
Microsoft had beat expectations on January 29 with second quarter EPS of $1.51 on revenue of $36.91B, compared to forecast for EPS of $1.05 on revenue of $32,512M.
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