Cadence Design Systems (CDNS) Tops Q3 EPS by 9c, Offers Q4 Guidance
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Cadence Reports Third Quarter 2020 Financial Results
October 19, 2020 4:05 PM EDTSAN JOSE, Calif.--(BUSINESS WIRE)-- Cadence Design Systems, Inc. (Nasdaq: CDNS) today announced results for the third quarter of 2020.
Cadence reported third quarter 2020 revenue of $667 million, compared to revenue of $580 million reported for the same period in 2019. On a GAAP basis, Cadence achieved operating margin of 25 percent and recognized net income of $162 million, or $0.58 per share on a diluted basis, in the third quarter of 2020, compared to operating margin of 21 percent and net income of $102 million, or $0.36 per share on a diluted basis, for the same period in 2019.
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