Cadence Design Systems (CDNS) Tops Q2 EPS by 5c, Revenues Beat; FY18 EPS Guidance Above Consensus
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Cadence Reports Second Quarter 2018 Financial Results
July 23, 2018 4:05 PM EDTSAN JOSE, Calif.--(BUSINESS WIRE)-- Cadence Design Systems, Inc. (NASDAQ: CDNS) today reported its results under new revenue rules, ASC Topic 606. For the second quarter of 2018, Cadence reported revenue of $518 million, GAAP net income of $75 million, or $0.27 per share on a diluted basis, and non-GAAP net income (as defined below), of $126 million, or $0.45 per share on a diluted basis.
Cadence also reported its results under the old revenue rules, ASC Topic 605, for easier comparison with prior results, all of which were reported under ASC Topic 605.
Under ASC Topic 605, for the second quarter... More
