From Yahoo Finance: 2025-04-28 16:49:00

Cadence Design Systems raises annual revenue and profit forecasts, attributing growth to chip design software demand from semiconductor firms in the AI sector. Customers include Nvidia and Apple. Revenue forecast for 2025 increased to $5.15-$5.23 billion, with adjusted profit per share up to $6.73-$6.83. Shares drop due to China market tensions.

Despite Sino-U.S. trade war impact, Cadence Design Systems reports first-quarter revenue of $1.24 billion, meeting estimates, and adjusted profit of $1.57 per share, beating estimates. Sales to China account for 11% of total revenue, with flat annual China revenue forecasted. Executives address tariffs concerns, stating software and services are not subject to tariffs.

Read more: Cadence raises annual forecasts on design software demand but tariff fears persist