SAN JOSE, CA – Cadence Design Systems reported $127 million in second quarter revenue for its System Design and Analysis unit, a 23.3% increase from the $103 million in revenue for the same quarter last year.

As a whole, the company saw second quarter revenue of $977 million, a 13.9% increase from 2022's second quarter. For the second half of 2023, the company expects total revenue in the range of $2.05 billion to $2.09 billion, and for the year, it expects total revenue in the range of $4.05 billion to $4.09 billion.

"Cadence delivered excellent results for the second quarter of 2023, with strong ongoing customer demand for our innovative technologies," said Anirudh Devgan, president and chief executive officer. "With its unparalleled promise, Generative AI is beginning to make a significant impact globally. Our dedicated focus on AI over the past several years, combined with our computational software expertise and invaluable data that lies at the core of AI, uniquely positions us to deliver to the tremendous potential of this transformative technology."

"We achieved another quarter of strong financial results and are raising our revenue, operating margin and EPS guidance for 2023 yet again," said John Wall, senior vice president and chief financial officer. "Our revenue outlook for the second half represents a year-over-year growth of approximately 15%, allowing us to raise our 2023 revenue guidance to more than 14% growth over 2022."

• Prev
• Next