Cadence Design Systems Beats Second-Quarter Sales, Earnings Goals

Electronic design software maker Cadence Design Systems (CDNS) late Monday beat Wall Street’s targets for the second quarter. But CDNS stock dropped in extended trading.


The San Jose, Calif.-based company earned an adjusted 86 cents a share on sales of $728 million in the June quarter. Analysts expected Cadence earnings of 76 cents a share on sales of $720 million. In the year-earlier period, Cadence earned 66 cents a share on sales of $638 million.

In after-hours trading on the stock market today, CDNS stock slid 0.5%, near 144.20. During the regular session Monday, CDNS stock dipped 0.5% to 144.97.

Earnings report details to follow.

CDNS stock is in the IBD Long-Term Leaders Portfolio.

Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.


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