Cadence (CDNS) tumbles despite Q1 beat on top and bottom lines
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Cadence Reports First Quarter 2024 Financial Results
April 22, 2024 4:02 PM EDTRecord First Quarter Backlog of $6.0 Billion and cRPO of $3.1 Billion
Raising 2024 Revenue Outlook
SAN JOSE, Calif.--(BUSINESS WIRE)-- Cadence Design Systems, Inc. (Nasdaq: CDNS) today announced results for the first quarter of 2024.
First Quarter 2024 Financial Results
Revenue of $1.009 billion, compared to revenue of $1.022 billion in Q1 2023 GAAP operating margin of 25%, compared to 32% in Q1 2023 Non-GAAP operating margin of 38%, compared to 42% in Q1 2023 GAAP diluted net income per share of $0.91, compared to $0.89 in Q1 2023 Non-GAAP diluted... More