Cadence Design Systems (CDNS) Tops Q2 EPS by 14c, Revenues Beat; Offers FY20 EPS/Revenue Guidance Above Consensus
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Cadence Reports Second Quarter 2020 Financial Results
July 20, 2020 4:05 PM EDTSAN JOSE, Calif.--(BUSINESS WIRE)-- Cadence Design Systems, Inc. (Nasdaq: CDNS) today announced results for the second quarter of 2020.
Cadence reported second quarter 2020 revenue of $638 million, compared to revenue of $580 million reported for the same period in 2019. On a GAAP basis, Cadence achieved operating margin of 24 percent and recognized net income of $131 million, or $0.47 per share on a diluted basis, in the second quarter of 2020, compared to operating margin of 23 percent and net income of $107 million, or $0.38 per share on a diluted basis, for the same period in 2019.
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