Cadence Design Systems Non-GAAP EPS of $0.96 beats by $0.04, revenue of $899.88M beats by $15.65M
Cadence Design Systems press release (NASDAQ:CDNS): Q4 Non-GAAP EPS of $0.96  beats by $0.04.
Revenue of $899.88M (+16.4% Y/Y)  beats by $15.65M.
Business Outlook
For the first quarter of 2023, the company expects total revenue in the range of $1.00 billion to $1.02 billion vs $934.98M consensus. First quarter GAAP operating margin is expected to be in the range of 31 percent to 32 percent and GAAP net income per diluted share is expected to be in the range of $0.84 to $0.88. Using the non-GAAP measures defined below, operating margin is expected to be in the range of 41 percent to 42 percent and net income per diluted share is expected to be in the range of $1.23 to $1.27 vs $1.09 consensus.

For fiscal year 2023, the company expects total revenue in the range of $4.00 billion to $4.06 billion vs $3.90B consensus. On a GAAP basis, operating margin for 2023 is expected to be in the range of 30.5 percent to 32.0 percent and GAAP net income per diluted share for 2023 is expected to be in the range of $3.24 to $3.34. Using the non-GAAP measures defined below, operating margin for 2023 is expected to be in the range of 40.5 percent to 42.0 percent and net income per diluted share for 2023 is expected to be in the range of $4.90 to $5.00 vs $4.70 consensus