Cadence Design Systems Non-GAAP EPS of $1.06 beats by $0.10, revenue of $902.55M beats by $33.7M
Cadence Design Systems press release (NASDAQ:CDNS): Q3 Non-GAAP EPS of $1.06  beats by $0.10.
Revenue of $902.55M (+20.2% Y/Y)  beats by $33.7M.

Outlook: For the fourth quarter of 2022, the company expects total revenue in the range of $870 million to $890 million vs. consensus of $865.45M. Fourth quarter GAAP operating margin is expected to be approximately 24 percent and GAAP net income per diluted share is expected to be in the range of $0.50 to $0.54. Using the non-GAAP measures defined below, operating margin is expected to be approximately 35 percent and net income per diluted share is expected to be in the range of $0.89 to $0.93 vs. consensus of 0.89.

For fiscal year 2022, the company expects total revenue in the range of $3.532 billion to $3.552 billion vs. consensus of $3.49B. On a GAAP basis, operating margin for 2022 is expected to be in the range of 29.7 percent to 30.7 percent and GAAP net income per diluted share for 2022 is expected to be in the range of $2.71 to $2.75. Using the non-GAAP measures defined below, operating margin for 2022 is expected to be in the range of 39.7 percent to 40.7 percent and net income per diluted share for 2022 is expected to be in the range of $4.20 to $4.24 vs. consensus of $4.11.