Cadence Design Systems (CDNS) Tops Q1 EPS by 8c, Offers Q2 and FY Guidance
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Cadence Reports First Quarter 2021 Financial Results
April 26, 2021 4:05 PM EDTSAN JOSE, Calif.--(BUSINESS WIRE)-- Cadence Design Systems, Inc. (Nasdaq: CDNS) today announced results for the first quarter of 2021.
Cadence reported first quarter 2021 revenue of $736 million, compared to revenue of $618 million for the same period in 2020. On a GAAP basis, Cadence achieved operating margin of 28 percent and recognized net income of $187 million, or $0.67 per share on a diluted basis, in the first quarter of 2021, compared to operating margin of 23 percent and net income of $124 million, or $0.44 per share on a diluted basis for the same period in 2020.
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