Cadence gains after raising 2026 revenue, profit forecast
CDNS•Cadence shares rise after guidance boost
Shares of chip design software provider Cadence Design Systems (CDNS.O) rise 4.6% to $354.29 in extended trading.
The company raises its 2026 revenue forecast to $6.26 billion to $6.34 billion, up from its prior outlook of $6.13 billion to $6.23 billion.
It expects adjusted EPS between $8.05 and $8.15, up from its previous forecast of $7.85-$7.95.
Quarterly results beat profit expectations
Cadence reports second-quarter adjusted EPS of $2.11, beating analysts' average estimate of $2.05, according to data compiled by LSEG.
Second-quarter revenue rises 24.2% to $1.58 billion, largely in line with estimates.
As of Monday's close, the stock has risen 8.2% year to date.
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