Cadence Reports Third Quarter 2019 Financial Results
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Cadence Design Systems (CDNS) Tops Q3 EPS by 3c, Revenues Beat; Provides Q4 & FY19 EPS/Revenue Outlook
October 21, 2019 4:07 PM EDTCadence Design Systems (NASDAQ: CDNS) reported Q3 EPS of $0.54, $0.03 better than the analyst estimate of $0.51. Revenue for the quarter came in at $580 million versus the consensus estimate of $576.37 million.
Major industry trends led by AI and data analytics are driving strong design activity, which coupled with innovation and outstanding execution by Cadence, again led to strong operating results, as Cadence delivered 9 percent year-over-year revenue growth, said Lip-Bu Tan, chief executive officer. Our Intelligent System Design strategy enables us to provide more capabilities and value to our customers, while also expanding our total addressable... More
