By Yasin Ebrahim
Investing.com – Cadence Design (NASDAQ:) reported Monday fourth-quarter that topped analysts expectations and delivered upbeat revenue guidance
Cadence Design rose 2% in aftermarket hours following its quarterly report.
For the first quarter of 2021, the company expects diluted EPS to be in the range of $0.72 to $0.76 on revenue in the range of $710 million to $730 million. That compared with estimates for EPS of $0.70 on revenue of $697.2 million.
For 2020, the company expects total revenue in the range of $2.64 and $2.66 billion, up $53 million from a prior estimates, while revenue fo $2.86 billion to $2.92 billion was forecast for 2021.
Cadence Design announced earnings per share of $0.83 on revenue of $759.9M. Analysts polled by Investing.com anticipated EPS of $0.7441 on revenue of $732.27M.
The company expects to use approximately 50% of free cash flow to repurchase its shares in 2021.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Need Your Help Today. Your $1 can change life.
If you registered an account, please enter your details below to login. If this is your first time, proceed to the donation form.