Investing.com - Cadence Design (NASDAQ:CDNS) reported on Monday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Cadence Design announced earnings per share of $0.6 on revenue of $618M. Analysts polled by Investing.com anticipated EPS of $0.54 on revenue of $614.81M. That with comparison to EPS of $0.54 on revenue of $576.74M in the same period a year before.Cadence Design had reported EPS of $0.54 on revenue of $599.56M in the previous quarter.Analysts are expecting EPS of $0.59 and revenue of $621.88M in the upcoming quarter.
Cadence Design shares are up 12% from the beginning of the year and are trading at $74.00 , down-from-52-week-high.They are outperforming the Nasdaq 100 which is down 0.86% year to date.
Cadence Design shares lost 4.92% in after-hours trade the report.
Cadence Design follows other major Technology sector earnings this month
Cadence Design's report follows an earnings matched by Taiwan Semiconductor on Thursday, who reported EPS of $0.75 on revenue of $10.32B, compared to forecasts EPS of $0.75 on revenue of $10.32B.
Micron had beat expectations on Wednesday, March 25, 2020 with second quarter EPS of $0.45 on revenue of $4.8B, compared to forecast for EPS of $0.37 on revenue of $4.69B.
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