SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Cadence Design Systems Inc. (CDNS) on Monday reported second-quarter profit of $160.1 million.
The San Jose, California-based company said it had profit of 59 cents per share. Earnings, adjusted for one-time gains and costs, were $1.65 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.57 per share.
The maker of hardware and software products for validating chip designs posted revenue of $1.28 billion in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $1.26 billion.
Cadence expects full-year earnings in the range of $6.85 to $6.95 per share, with revenue in the range of $5.21 billion to $5.27 billion.
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