Cadence Design (NASDAQ:CDNS) reported second quarter earnings that beat analysts' expectations on Monday and revenue that topped forecasts.
The firm reported earnings per share of $0.57 on revenue of $580.4M. Analysts polled by forecast EPS of $0.53 on revenue of $579.41M. That compared to EPS of $0.45 on revenue of $518.39M in the same period a year earlier. The company had reported EPS of $0.54 on revenue of $576.74M in the previous quarter.
Cadence Design shares lost 9.03% to trade at $66.10 in after-hours trade following the report.
Cadence Design follows other major Technology sector earnings this month
On Thursday, Microsoft reported fourth quarter EPS of $1.37 on revenue of $33.72B, compared to forecasts of EPS of $1.21 on revenue of $32.77B.
Taiwan Semiconductor earnings matched analysts' expectations on Thursday, with second quarter EPS of $0.41 on revenue of $7.76B. analysts expected EPS of $0.41 on revenue of $7.62B
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