Cadence Design Systems (CDNS) Shares Up 8% on Q4 Beat and Raise

Cadence Design Systems (NASDAQ: CDNS) shares rose 8% after-hours following the company’s Q4 results, with EPS of $0.82 coming in better than the consensus estimate of $0.76. Revenue was $773 million, beating the consensus estimate of $757.38 million.

The company expects Q1/22 EPS in the range of $1.00-$1.04, above the consensus of $0.82, and revenue in the range of $850-870 million, above the consensus of $771.62 million.

For the full 2022-year, the company expects EPS in the range of $3.70-$3.80, compared to the consensus of $3.56, and revenue in the range of $3.32-3.38 billion, compared to the consensus of $3.24 billion.

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