Cadence Design Systems Shares Up 5% on Q1 Earnings Beat and Raise

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Go back to Cadence Design Systems Shares Up 5% on Q1 Earnings Beat and Raise

Cadence Reports First Quarter 2022 Financial Results

April 25, 2022 4:05 PM EDT

SAN JOSE, Calif.--(BUSINESS WIRE)-- Cadence Design Systems, Inc. (Nasdaq: CDNS) today announced results for the first quarter of 2022.

Cadence reported first quarter 2022 revenue of $902 million, compared to revenue of $736 million for the same period in 2021. On a GAAP basis, Cadence achieved operating margin of 35 percent and recognized net income of $235 million, or $0.85 per share on a diluted basis, in the first quarter of 2022, compared to operating margin of 28 percent and net income of $187 million, or $0.67 per share on a diluted basis, for the same period in 2021.

Using the non-GAAP... More