Cadence Design Systems Lifts FY22 Outlook

(RTTNews) - While reporting its third-quarter results on Monday, Cadence Design Systems (CDNS) lifted its outlook for the full year 2022.

For the full year 2022, the company now expects earnings of $2.71 to $2.75 per share, adjusted earnings of $4.20 to $4.24 per share and revenues of $3.532 billion to $3.552 billion.

Previously, the company expected earnings of $2.59 to $2.65 per share, adjusted earnings of $4.06 to $4.12 per share and revenues of $3.470 billion to $3.510 billion.

Analysts polled by Thomson Reuters currently estimate earnings of $4.12 per share and revenues of $3.50 billion. Analysts' estimates typically exclude one-time items.

For the fourth quarter, the company expects earnings of $0.50 to $0.54 per share, adjusted earnings of $0.89 to $0.93 per share and revenues of $870 million to $890 million. Analysts currently estimate earnings of $0.89 per share and revenues of $866.61 million.