Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- Cadence Design Systems Inc (NASDAQ:CDNS) reported second-quarter sales growth of 17.8% year-over-year to 857.52 million, beating the consensus of $836.89 million.
- Adjusted EPS improved to $1.08 from $0.86 in 2Q21, above the consensus of $0.96.
- The operating income increased by 52.6% Y/Y to $282.89 million, and the margin expanded by 753 bps to 33%.
- The adjusted operating margin was 42% versus 39% in 2Q21.
- CDNS' net cash provided by operating activities year-to-date was $661.15 million, compared to $588.82 million a year ago.
- 3Q22 Outlook: Cadence expects total revenue of $860 million to $880 million, better than the consensus of $847.81 million.
- It forecasted a GAAP operating margin of 26% to 27% and an adjusted operating margin of 37% to 38%.
- It expects GAAP net income per diluted share of $0.58 to $0.62 and foresees an adjusted EPS of $0.94 to $0.98, vs. a consensus of $0.93.
- FY22 Outlook: Cadence expects total revenue of $3.470 billion to $3.510 billion (prior expectation of $3.395 billion to $3.435 billion), vs. a consensus of $3.41 billion.
- It sees a GAAP operating margin of 29.25% to 30.25% and an adjusted operating margin of 39.25% to 40.25%.
- It expects GAAP net income per diluted share of $2.59 to $2.65 (prior expectation of $2.51 to $2.59) and an adjusted EPS of $4.06 to $4.12. (prior $3.89 to $3.97), vs. a consensus of $3.92.
- Price Action: CDNS shares are trading higher by 4.32% at $174.90 during the post-market session on Monday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!