Yahoo Finance Cadence Design Systems First Quarter 2024 Earnings: EPS Beats Expectations
Cadence Design Systems (NASDAQ:CDNS) First Quarter 2024 Results
Key Financial Results
Revenue: US$1.01b (down 1.2% from 1Q 2023).
Net income: US$247.6m (up 2.4% from 1Q 2023).
Profit margin: 25% (in line with 1Q 2023).
EPS: US$0.92 (up from US$0.90 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Cadence Design Systems EPS Beats Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 20%.
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 down 5.5% from a week ago.
Balance Sheet Analysis
While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We've done some analysis and you can see our take on Cadence Design Systems' balance sheet.
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