Cadence Design Systems Announces Q3 Results and Raises Annual Guidance
CDNS Cadence Design Systems Inc
$331.64 -1.45%
View chart & analysis → - 1Cadence Design Systems exceeded guidance in key financial metrics, recording a Q3 backlog of $8.2 billion.
- 2Cadence Design Systems announced an annual revenue growth outlook of 21% and an updated annual EPS guidance of $8.40.
- 3The Cadence Design Systems board approved an additional $2.5 billion for its share repurchase program.
So what's the key point?
Cadence Design Systems performed better than expected with orders exceeding $8.2 billion. The company raised its future earnings outlook and decided to buy back more of its own shares.
Source The Motley Fool +1 · View original ↗
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