CDNS

Cadence Design Systems (NASDAQ:CDNS) reported Q2 non-GAAP earnings late Monday of $1.22 per diluted share, up from $1.08 a year earlier. Analysts polled by Capital IQ expected $1.19. Revenue for the quarter ended June 30 was $976.6 million, up from $857.5 million a year earlier. Analysts surveyed by Capital IQ expected $977.2 million. Cadence Design Systems said it expects 2023 non-GAAP diluted EPS of $5.05 to $5.11 on revenue of $4.05 billion to $4.09 billion. The previous guidance was non-GAAP diluted EPS of $4.96 to $5.04 on revenue of $4.03 billion to $4.07 billion. Analysts polled by Capital IQ expect EPS of $5.03 on revenue of $4.06 billion.