Investing.com - Cadence Design (NASDAQ:CDNS) reported on Monday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Cadence Design announced earnings per share of $1.08 on revenue of $857.52M. Analysts polled by Investing.com anticipated EPS of $0.9645 on revenue of $834.51M.
Cadence Design shares are down 10% from the beginning of the year and are trading at $172.74 , down-from-52-week-high.They are outperforming the Nasdaq 100 which is down 24.46% from the start of the year.
Cadence Design shares gained 3.03% 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, July 14, 2022, who reported EPS of $1.53 on revenue of $17.87B, compared to forecasts EPS of $1.44 on revenue of $17.68B.
ASML ADR had beat expectations on Wednesday with second quarter EPS of $3.62 on revenue of $5.55B, compared to forecast for EPS of $3.61 on revenue of $5.56B.
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