Cadence Design (NASDAQ:CDNS) reported first quarter earnings that Beat analysts' expectations on Monday and revenue that topped forecasts.
The firm reported earnings per share of $0.54 on revenue of $576.7M. Analysts polled by expected EPS of $0.49 on revenue of $569.33M. That compared to EPS of $0.4 on revenue of $517.31M in the same period a year earlier. The company had reported EPS of $0.52 on revenue of $569.85M in the previous quarter.
Cadence Design shares gained 2.02% to trade at $65.51 in after-hours trade following the report.
Cadence Design follows other major Technology sector earnings this month
On Wednesday, Taiwan Semiconductor reported first quarter EPS of $0.38 on revenue of $7.09B, compared to forecasts of EPS of $0.4 on revenue of $7.14B.
IBM earnings Beat analysts' expectations on April 16, with first quarter EPS of $2.25 on revenue of $18.18B. analysts expected EPS of $2.22 on revenue of $18.47B
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