Cadence Design Systems Non-GAAP EPS of $1.29 beats by $0.04, revenue of $1.02B beats by $10M
Cadence Design Systems press release (NASDAQ:CDNS): Q1 Non-GAAP EPS of $1.29  beats by $0.04.
Revenue of $1.02B (+13.1% Y/Y)  beats by $10M.

Q2 Outlook: The company expects total revenue in the range of $960 million to $980 million. Second quarter GAAP operating margin is expected to be in the range of 29 percent to 30 percent and GAAP net income per diluted share is expected to be in the range of $0.73 to $0.77. Using the non-GAAP measures defined below, operating margin is expected to be in the range of 40 percent to 41 percent and net income per diluted share is expected to be in the range of $1.15 to $1.19.


2023 Outlook: The company expects total revenue in the range of $4.03 billion to $4.07 billion. On a GAAP basis, operating margin for 2023 is expected to be in the range of 30 percent to 31 percent and GAAP net income per diluted share for 2023 is expected to be in the range of $3.26 to $3.34. Using the non-GAAP measures defined below, operating margin for 2023 is expected to be in the range of 41 percent to 42 percent and net income per diluted share for 2023 is expected to be in the range of $4.96 to $5.04.
Shares -3.28%.