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Cadence’s Stock Drop on Soft Revenue Outlook

Cadence Design Systems reports strong Q4 results with record revenue, but stock drops on soft revenue guidance for next quarter.

by Terry Bingman
Tue, Feb 13, 2024 2:11am
in Technology
• 2 mins read
14.8k
Cadence's Stock Drop on Soft Revenue Outlook | FinOracle

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Cadence Delivers Strong Q4 FY2023 Results with Record Revenue, but Stock Drops on Soft Revenue Guidance

Cadence Design Systems (NASDAQ:CDNS) has reported its Q4 FY2023 results, meeting analysts’ expectations with a strong revenue increase of 18.8% year on year, reaching $1.07 billion. However, despite this positive performance, the company’s stock price dropped as the revenue guidance for the next quarter fell short of analysts’ estimates at $1 billion, reflecting an 8.5% decrease.

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