04:40 PM EDT, 07/22/2024 (MT Newswires) -- Cadence Design Systems ( CDNS ) reported Q2 non-GAAP earnings late Monday of $1.28 per diluted share, up from $1.22 a year earlier.

Analysts polled by Capital IQ expected $1.23.

Revenue for the quarter that ended June 30 was $1.06 billion, compared with $976.6 million a year earlier.

Analysts surveyed by Capital IQ expected $1.04 billion.

The company expects Q3 non-GAAP earnings of $1.39 to $1.49 per diluted share on revenue of $1.17 billion to $1.20 billion. Analysts expect EPS of $1.60 and revenue of $1.20 billion.

It now expects fiscal 2024 non-GAAP earnings of $5.77 to $5.97 per diluted share on revenue of $4.60 billion to $4.66 billion. Analysts expect EPS of $5.93 and revenue of $4.60 billion. The company had previously guided full-year non-GAAP earnings of $5.88 to $5.98 per diluted share and revenue of $4.56 billion to $4.62 billion.

Shares of the company were down nearly 1% in after-hours activity.

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