Investing.com - Cadence Design (NASDAQ:CDNS) reported on Monday third quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Cadence Design announced earnings per share of $0.8 on revenue of $750.9M. Analysts polled by Investing.com anticipated EPS of $0.7474 on revenue of $742.04M.
Cadence Design shares are up 22% from the beginning of the year, still down 1.29% from its 52 week high of $169.57 set on October 25. They are outperforming the Nasdaq 100 which is up 20.37% from the start of the year.
Cadence Design follows other major Technology sector earnings this month
Cadence Design's report follows an earnings beat by Facebook on Monday, who reported EPS of $3.22 on revenue of $29.01B, compared to forecasts EPS of $3.19 on revenue of $29.58B.
Taiwan Semiconductor had beat expectations on October 14 with third quarter EPS of $1.07 on revenue of $14.75B, compared to forecast for EPS of $1.04 on revenue of $14.81B.
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