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 $1.17 on revenue of $901.77M. Analysts polled by Investing.com anticipated EPS of $1.02 on revenue of $770.84M.
Cadence Design shares are down 18% from the beginning of the year and are trading at $157.00 , down-from-52-week-high.They are under-performing the S&P 500 which is down 9.8% from the start of the year.
Cadence Design shares gained 3.90% in after-hours trade the report.
Cadence Design follows other major Information Technology sector earnings this month
Cadence Design's report follows an earnings beat by Taiwan Semiconductor on Thursday, April 14, 2022, who reported EPS of $1.35 on revenue of $16.94B, compared to forecasts EPS of $1.27 on revenue of $16.73B.
ASML ADR had missed expectations on Wednesday with first quarter EPS of $1.88 on revenue of $3.84B, compared to forecast for EPS of $1.94 on revenue of $3.86B.
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