Cadence Design Systems stock up 6% after quarterly beat
Shares of Cadence Design Systems Inc. rose more than 6% in the extended session Monday after the software company reported fourth-quarter profit and sales above Wall Street expectations. Cadence said it earned $174 million, or 62 cents a share, in the quarter, compared with $660 million, or $2.36 a share, in the year-ago quarter. Adjusted for one-time items, Cadence earned $234 million, or 83 cents a share, compared with 54 cents a share a year ago. Revenue rose to $760 million from $600 million a year ago. Analysts polled by FactSet expected adjusted earnings of 74 cents a share on sales of $732 million. The company guided for first-quarter revenue in a range between $710 million and $730 million, and first-quarter GAAP EPS between 55 cents and 59 cents. For full-year 2021, the company guided for revenue between $2.86 billion and $2.92 billion, and GAAP EPS between $2.09 and $2.19. “I am very pleased that against the backdro
1 month ago
SAN JOSE, Calif.–(BUSINESS WIRE)–Cadence Design Systems, Inc. (Nasdaq: CDNS) today announced results for the fourth quarter and fiscal year 2020.
Cadence reported 2020 revenue of $2.683 billion, compared to revenue of $2.336 billion for 2019. On a GAAP basis, Cadence achieved operating margin of 24 percent and recognized net income of $591 million, or $2.11 per share on a diluted basis, in 2020, compared to operating margin of 21 percent and net income of $989 million, or $3.53 per share on a diluted basis for 2019. Revenue for the fourth quarter of 2020 totaled $760 million, compared to revenue of $600 million for the same period in 2019. Cadence achieved operating margin of 24 percent and recognized net income of $174 million, or $0.62 per share on a diluted basis, in the fourth quarter of 2020, compared to operating margin of 18 percent and net income of $660 million, or $2.36 per share on a diluted basis, for the same period in 20
Automotive Ethernet Market worth $5.6 billion by 2026 - Exclusive Report by MarketsandMarkets Automotive Ethernet Market by Component (Hardware, Software, and Services), Type, Bandwidth, Application, Vehicle Type (Passenger Cars, Commercial Vehicles, and Farming and Off-highway Vehicles), and Region - Global Forecast to 2026
published by MarketsandMarkets, the market size to grow from USD 1.8 billion in 2020 to USD 5.6 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 20.9% during the forecast period.
Major factors expected to drive the growth of the Automotive Ethernet Market include low-cost Ethernet technology, rise in demand for Advanced Driver Assistance Systems (ADAS) and infotainment systems, and advancement in Ethernet technology.
Based on component, services segment to record the highest growth during the forecast period
Based on components, the services segment is expected to grow at a higher rate during the forecast period. The services segment has a major influence on the Automotive Ethernet Market s growth. The demand for services is increasing with the growing adoption of automotive Ethernet by passenger cars as well as commercial vehicle segment. These services assist end users in reducing costs, increasing overall revenues, and improving business performance. With the help of these services, automotive Original Equipment Manufacturers (OEMs) can track, evaluate, and analyze the requirements of their business to make better-informed decisions.