Cadence Design beats by $0.05, reports revs in-line; guides Q1 EPS below consensus, revs below consensus; guides FY24 EPS in-line, revs in-line
4:05 PM ET 2/12/24 | Briefing.com
Reports Q4 (Dec) earnings of $1.38 per share, excluding non-recurring items, $0.05 better than the FactSet Consensus of $1.33; revenues rose 18.8% year/year to $1.07 bln vs the $1.06 bln FactSet Consensus.Record Backlog of $6.0 Billion and cRPO of $3.2 Billion.Co issues downside guidance for Q1, sees EPS of $1.10-$1.14, excluding non-recurring items, vs. $1.37 FactSet Consensus; sees Q1 revs of $990-$1.01 bln vs. $1.09 bln FactSet Consensus. Co issues in-line guidance for FY24, sees EPS of $5.87-$5.97, excluding non-recurring items, vs. $5.87 FactSet Consensus; sees FY24 revs of $4.55-$4.61 bln vs. $4.57 bln FactSet Consensus.
Second Article:
04:20 PM EST, 02/12/2024 (MT Newswires) -- Cadence Design Systems (CDNS) reported Q4 non-GAAP earnings Monday of $1.38 per diluted share, up from $0.96 a year earlier.
Analysts polled by Capital IQ expected $1.33.
Revenue for the quarter ended Dec. 31 was $1.07 billion, up from $899.9 million a year earlier.
Analysts surveyed by Capital IQ expected $1.06 billion.
The computational software company said it expects Q1 non-GAAP EPS of $1.10 to $1.14 on revenue of $990 million to $1.01 billion. Analysts polled by Capital IQ are expecting $1.39 and $1.09 billion, respectively.
Cadence said it expects fiscal 2024 non-GAAP diluted EPS of $5.87 to $5.97. Analysts polled by Capital IQ expect $5.89.
Revenue for the full fiscal year is projected to be $4.55 billion to $4.61 billion. Analysts surveyed by Capital IQ expect $4.58 billion.
Cadence shares were down nearly 6% in recent after-hours activity.
Price: 289, Change: -17.58, Percent Change: -5.73
|
