Cadence falls despite earnings beat and raised guidance
+6.49% to $343.08 from $322.17
What moved CDNS
- Cadence reported third-quarter 2026 revenue of $1.633 billion, up from $1.339 billion a year earlier, with non-GAAP earnings per share of $2.11.
- The company raised its full-year 2026 revenue growth outlook to 21% and its non-GAAP EPS outlook to $8.40, and authorized an additional $2.5 billion in share buybacks.
- Shares fell in early trading despite the beat-and-raise report, with commentary pointing to the stock’s high valuation.
Sources: Company earnings release · Seeking Alpha