Investing.com - Cadence Design (NASDAQ:CDNS) reported on Monday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Cadence Design announced earnings per share of $0.66 on revenue of $638.4M. Analysts polled by Investing.com anticipated EPS of $0.52 on revenue of $591.1M.
Cadence Design shares are up 49% from the beginning of the year , still down 0.42% from its 52 week high of $104.31 set on July 20. They are outperforming the S&P 500 which is up 0.66% 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 Taiwan Semiconductor on Wednesday, who reported EPS of $0.79 on revenue of $10.55B, compared to forecasts EPS of $0.72 on revenue of $10.38B.
Accenture had beat expectations on June 25 with third quarter EPS of $1.9 on revenue of $10.99B, compared to forecast for EPS of $1.86 on revenue of $10.72B.
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