Cadence’s AI-Fueled Q3 Surprise: Earnings Beat, Big Deals, and Bold Forecasts Ignite CDNS Stock
Cadence Design Systems posted Q3 adjusted EPS of $1.93 on $1.34 billion revenue, both above estimates. The company raised its 2025 outlook, now projecting up to $5.29 billion in revenue and $7.08 non-GAAP EPS. Order backlog reached a record $7 billion. Cadence completed its Arm chip IP acquisition and agreed to buy Hexagon’s Design & Engineering unit for $3.2 billion.