04:34 PM EDT, 10/28/2024 (MT Newswires) -- Cadence Design Systems ( CDNS ) reported Q3 non-GAAP earnings late Monday of $1.64 per diluted share, up from $1.26 a year earlier.

Analysts polled by Capital IQ expected $1.44 normalized.

Revenue in the three months ended Sept. 30 rose to $1.22 billion from $1.02 billion a year earlier. Analysts surveyed by Capital IQ expected $1.18 billion.

In 2024, the company expects non-GAAP diluted EPS of $5.87 to $5.93 on revenue of $4.61 billion to $4.65 billion. The previous guidance was EPS of $5.77 to $5.97 on revenue of $4.6 billion to $4.66 billion. Analysts expect normalized EPS of $5.89 and revenue of $4.63 billion.

The company's shares rose 6.6% in recent after-hours activity.

Price: 269.40, Change: +16.63, Percent Change: +6.58